International Internet Magazine. Baltic States news & analytics
Friday, 27.02.2015, 06:03
On property division in Latvia
Answer: According to Section 1074 of Civil law each joint owner may at any time require a division of jointly owned property from other joint owners. Jointly owned property may be divided either amicably or through court if a dispute arises between joint owners. There are two commonly used ways for dividing an apartment as specified in Section 1075 of Civil law – to give the whole property to one joint owner, with a duty to pay the others for their shares in money, or sell the property, and divide among the joint owners the moneys so received. In the event the division takes places through court, the court is entitled to decide in its discretion which way would be the most appropriate for division of the property.
The court shall consider all circumstances of the matter: who is living and using the apartment, who’s paying utility charges, who shall keep the apartment, but who shall receive compensation for his share, etc. The court may also decide the issue by drawing lots.
Law office INLAT PLUS
Brivibas 40-15, Riga