Slovak Financial Law News 2005

Termination and Settlement of Co-Ownership to Real Estate (Building) by its actual Division upon a Court Decisions

Ruling of the Supreme Court of the Slovak Republic, file No. 2 M Cdo 3/2004, published in the periodical From the Practice of Courts No. 5/2004

In the proceedings on termination and settlement of co-ownership to a building or house where non-residential premises as so-called `non-residential units', parts specified in terms of reality and space, are located, settlement by dividing this house into individual non-residential units may be considered, so also at the horizontal level, provided the other prerequisites for their independent existence are fulfilled (sufficiently exact description and spatial and technical specification, etc.) from the legal point of view, whereas common parts or facilities of the building will remain in co-ownership of the owners of non-residential premises in a similar way like it is stipulated in Act No. 182/1993 Coll. on Ownership of Flats and Non-Residential Premises, as amended.