Co-ownership in shares (podílové spoluvlastnictví)
Ownership of one thing by several persons, each with a defined share, e.g. 1/2 or 60/100 (§ 1115 et seq. of the Civil Code, občanský zákoník). The share is recorded in the land registry and determines rights and obligations regarding the thing; ordinary management is decided by a majority according to the size of the shares. Each co-owner may freely dispose of their share; the others' pre-emption right applies only to an inherited share, for 6 months.
Example
An unmarried couple buy a flat for CZK 5,000,000; she contributes CZK 700,000 and he CZK 300,000 of own funds. Shares of 60/100 and 40/100 are registered and both sign as co-borrowers for the remaining CZK 4,000,000 (5.00 %, 25 years). Each of them, however, owes the bank the full payment of CZK 23,384, regardless of their share.
In practice
The bank wants a lien on the whole property, so all co-owners sign the pledge agreement; a pledge of a single share is accepted only exceptionally. Set the shares according to what each of you put in, and put in writing who pays what and what happens if you split up. Registering 50/50 after unequal contributions and relying on a verbal agreement is asking for a dispute. How to set the shares and the repayments is covered in co-ownership and a mortgage.
How it differs
Spouses normally hold property differently: community property of spouses (společné jmění manželů, SJM) has no defined shares, and co-ownership in shares arises between them only after settlement. Owning a flat in a building with an SVJ (owners' association) is separate ownership of the unit, which comes with a share in the common parts of the building.
Frequently asked questions
What is co-ownership in shares?
Ownership of one property by several people, each with a defined share such as 1/2 or 60/100, recorded in the land registry. The share sets each owner's rights and obligations, and ordinary decisions are taken by a majority of shares.
Can a share in a property be pledged?
By law yes: a co-owner may dispose of his share and any tradable thing can be pledged, while a lien on the whole property needs every co-owner's consent. Whether a bank will lend against a single share is its own decision, so ask before you plan on it.
Do co-owners have a right of first refusal?
Only in a narrow case: when the co-ownership arose by inheritance or another event the co-owners could not influence, the others have a pre-emption right for 6 months (§ 1124 of the Civil Code). It does not apply to a sale to another co-owner, a spouse, a sibling or a relative in the direct line.
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