Legal basis of the petition for the sale of Equity sharing:
To examine the demand for the sale of Equity sharing, we must pay attention to the lawsuit of separation and division of Equity sharing and its direct connection with the lawsuit of sale of Equity sharing. After the certificate of non-separation has been issued and finalized by the registry office or the court, any of the common owners can apply to the court to sell the Equity sharing. After receiving the request for the sale order, the court, without setting a time for the hearing, issues the order for the sale of the Equity sharing and sends the issued lawsuit to enforce the civil judgments.
The parties request
Each of the partners who want to sell the Equity sharing, on behalf of all their partners, apply for a plan. So if, for example, a property has four partners and one of the partners wants to sell the Equity sharing, he must file a lawsuit against the other three partners.
Competent reference for the order of sale of Equity sharing
An application for an order to sell a Equity sharing must be filed in the court where the property is located.
How to execute the order to sell Equity sharing
The order to sell the Equity sharing is sent to the Enforcement Department without the need for an executive order. Execution of judgments is determined by filing an executive file by lot, a forensic expert to price the property. If the parties do not object to the price set within one week, it will publish the auction notice. If the property is sold by auction, the judge, after deducting the administrative and legal costs in proportion to the share of the partners, distributes the amount of the sale of the Equity sharing among the partners.
A few points about the order to sell Equity sharing
- Although the request for an order to sell a Equity sharing is not subject to the formalities of civil procedure, most courts accept this request in the form of a petition.
- Since the court decision regarding the order to sell the Equity sharing is not in the form of a verdict or an appointment, it cannot be appealed and it does not have the validity of the final order. So, if we do not reach the desired result in the lawsuit, which is the same as the sales order, we can still file a lawsuit.
- The majority of courts are of the opinion that after the issuance of an order for the sale of Equity sharing, each of the partners can submit a request for the execution of the order and sale of the property, but some courts believe that only the applicant can make this request.
- If the property is under arrest or mortgaged, the request for a property sale order cannot be heard.