Linggo, Oktubre 9, 2011

Article 493

Art. 493. Each co-owner shall have the full ownership of his part and of the fruits and benefits pertaining thereto, and he may therefore alienate, assign or mortgage it, and even substitute another person in its enjoyment, except when personal rights are involved. But the effect of the alienation or the mortgage, with respect to the co-owners, shall be limited to the portion which may be alloted to him in the division upon the termination of the co-ownership. (399) This article deals not with the right to the whole property but only with the right to the ideal or metaphysical share of each each co-owner.Each co-owner has full ownership of his part and of his share of the fruits and benefits and therefore, he may alienate, assign on mortgage his (ideal) share (not one with boundaries) This is ofcourse with prejudice to the  exercise by the others of their right of legal Redumption in the proper case. A co-owner cannot sell his share to a stranger if their by, there would be a change in the use of the common property. For example, A,B,and C are the owners respectively  of the 1st 2nd 3rd floors of a house used as a residence. A cannot sell the ground floor (without the other consent) to a stranger who desires to convert it into a factory for here, the interest of the others wouuld be jeopardized

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