Definition : Indivision agreement

Agreement, to determine the modus operandi and the management of an undivided co-ownership. It purpose is without limitation to:

• Identify the immovable;
• Determine each undivided co-owner’s shares;
• Establish the undivided co-owners exclusive rights of use of the immovable;
• Develop allocation rules of the immovable’s expenses;
• Establish the immovable’s administrative rules and the restrictions on sales;
• Govern the undivided co-owners’ rights and obligations in respect to the enjoyment of the premises;
• Determine the improvements’ ownership;
• Fix the term of the agreement;
• Provide the rules governing partition at the termination of indivision.

More often than not, a notary drafts the indivision agreement. Its contents can be adapted in accordance with the needs of the undivided co-owners and the characteristics of the immovable. It is a contract that can be amended only with all of the co-owners’ consent.

WHAT YOU SHOULD KNOW ! The indivision agreement is optional and does not create indivision. Although the law does not make it compulsory, it must be published in the land register so that it may be set up against third parties.