Case For Elimination Of Partnership
The lawsuit for the elimination of shareholding (partnership) is a bilateral lawsuit that terminates the co-ownership relationship existing between the shareholders (partners) in movable or immovable property subject to shared ownership or joint ownership and enables the transition to individual ownership, and has similar consequences for the parties.
The action for dissolution of shareholding is filed by one or more of the shareholders against the other shareholders. Pursuant to Article 27 of the CCP, all stakeholders must take part in the lawsuit. In case of the death of one of the shareholders or one of the partners, the merits of the case should be examined after ensuring the participation of the heirs in the lawsuit according to the certificate of inheritance to be obtained.
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According to Article 699 of the Turkish Civil Code, in the event of the termination of shared ownership, the method of sharing is concluded as follows:
Sharing is carried out by dividing the property in kind or by selling it by negotiation or auction and dividing the price. If there is no agreement on the method of division, upon the request of one of the shareholders, the judge decides to divide the property in kind, and if the values of the divided parts are not equal to each other, the judge decides to provide equalisation by adding money to the part with the deficient value.
If the request for division is not deemed appropriate to the circumstances and conditions, and especially if it is not possible to divide the shared property without a significant loss of value, a sale by auction shall be ordered. The decision to conduct the sale by auction among the shareholders is subject to the consent of all shareholders (Article 699 of the Civil Code).
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