Joint ownership is a legal concept relating to the right of ownership of an asset or right; in other words, it means that the asset or right is owned jointly by several people, without being physically divided or each co-owner having a specific physical share. It is also known as co-ownership, joint tenancy or community of property.
The firms that purchase these undivided shares are companies that specialise in acquiring the undivided share held by an individual, thereby releasing the co-owner from joint ownership and, in turn, from the administrative burdens or disputes that this situation entails.
The rise in recent years in disputes over inheritances, separations or joint investments has meant that these transactions are becoming increasingly common in Spain, and as a result the market for the purchase of undivided shares has grown significantly over the last 10 years.