Section 263
Separation Of One’s Share From Joint Property
(1) Any owner of
a joint property may separate his or her right or share therein from
the other owners at any time.
(2) The separation of a joint property referred to in subsection
(1) shall be effected in accordance with the consent of all
the owners.
(3) Notwithstanding anything contained in sub-section (1)
or (2), if the separation of any joint property results either in a
substantial loss to the other owners or in a disorder in the form of
that property, such separation may not be made.
(4) If any joint property cannot be separated owing to the
circumstance referred to in sub-section (3), the owners of that
property shall sell such property and divide the proceeds of sale
between them in proportion to their respective right and share
therein.
(5) If any joint property cannot be sold in accordance with
sub-section (4) or all the owners do not agree to sell it and any
owner intends to buy such property, such an owner may exclusively
own it by paying the price of that property to the other owners in
the same proportion.
(6) If more than one owner intend to buy the joint property
pursuant to sub-section (5), the owner who agrees to pay the highest
price shall be entitled to purchase such property.