Private ownership
1) Sole ownership – the property is owned by a single person who is entitled to exercise the rights of ownership.
2) Mutual ownership – the property is owned by more persons. In this case the rights of ownership are exercised by mutual owners. The ownership share is a key term here. This share, expressed as a fraction or a percentage, represents the rate of the co-owner´s participation in rights and duties. However, it is constituted as a so-called ideal share, i.e. a share that does not correspond to a certain real part of the property. With respect to mutual ownership it is important to mention that in case of the sale of a co-owner´s share, other co-owners have the right of first refusal to this share. A co-owner is entitled to be offered the share under the terms proposed by a third party. If a co-owner meets these terms, there is a priority right to buy the ownership share of the other co-owner over the third party. If the co-owners do not agree otherwise (mostly in cases when there are more bidders for the released share), all the other co-owners can buy out the released share in proportion to their shares.
3) Joint property of spouses – the property is owned by spouses. As opposed to mutual ownership, there is no share determined – i.e. an ideal share neither. In case of joint property of spouses, this share is specified only as of the day of the termination of the marriage and the settlement of joint property and the shares of both the spouses are assumed to be identical.
Cooperative ownership
In contrast to private ownership, the property is owned by a legal entity – a cooperative – that is stated in the Real Estate Cadastre as the owner of the property. In case of purchasing a property that is a part of the cooperative, the buyer becomes a mutual co-owner of this cooperative property. The size of the share is determined similarly to the case of blocks of flats in private ownership. The transfer of the real estate is carried out by the transfer of the share between the seller and the buyer. This change is not registered in the Real Estate Cadastre and the approval of the bodies of the cooperative is required neither.