Faster decisions. Smarter solutions. Legal Point begins cooperation with BluOr Bank AS

SIA Legal Point is pleased to announce the start of a strategic cooperation with BluOr Bank AS, one of Latvia’s leading locally capitalised banks with a strong focus on corporate banking and business financing.

This partnership enables us to offer our clients more integrated legal and financial solutions, particularly in the areas of company formation, bank account opening, financing, investment projects and structuring of cross-border transactions.

Key benefits for our clients:

• smoother and more efficient coordination between legal and banking processes;

• practical support for business financing and growth;

• a tailored approach based on the client’s business model and risk profile;

• professional assistance for both local and international entrepreneurs.

By combining Legal Point’s legal experience with BluOr Bank’s strong corporate banking capabilities, we create added value for our clients’ sustainable business development.

What is Co-ownership in an Apartment Building, and How Does It Arise?

Co-ownership in an apartment building means that the entire residential building – including apartments, stairwells, basements, attics, and other shared elements – is legally regarded as a single property owned by more than one person. These owners jointly manage the property, with each owning a "share of co-ownership" or an undivided interest in the entire property. This co-ownership status typically arises when a building has not been divided into separate apartment properties (apartment ownership), which is common in Riga and other Latvian cities, especially in older buildings.

Amendments to Co-ownership Law and Tackling "Co-ownership Raiding"

On May 1 2022, amendments to the Civil Law entered into force, significantly modernizing the legal framework for terminating co-ownership. These amendments were necessary because, in recent years, specific individuals have taken advantage of legal loopholes by purchasing co-ownership shares of real estate and then initiating partition proceedings or forced auctions to gain disproportionate profit. This practice has become known as "co-ownership raiding."

A turning point occurred with the Supreme Court's decision on December 17, 2019, in case No. C04169414, SKC-259/2019, which highlighted that Article 1075 of the Civil Law was outdated. In response, the Latvian Parliament adopted the amendments on February 3 2022.

New Method of Terminating Co-ownership – Conversion into Apartment Ownership

The amendments added a new method to Article 1075 – the division of a real estate property into separate apartment units. This allows co-owners to legally convert a residential building into individual apartments, with each person owning their unit and a share in the jointly owned areas. This helps reduce disputes and provides a more transparent structure of ownership.

Is It Safe to Buy a Property in Co-ownership?

Buying into co-ownership is a legal option, but it comes with risks. The buyer acquires rights to a share of the entire building, not just a specific apartment. Banks may provide financing, but if there is no co-use agreement in place, the valuation—and thus the available credit—may be lower.

Before purchasing, it is recommended to:

• Review the ownership shares and layout;

• Check whether a co-use agreement exists;

• Evaluate the relationship with other co-owners;

• Obtain legal advice.

How to Sell Co-owned Property

The sale of a co-ownership share must observe pre-emption rights. Other co-owners have the right to purchase the offered share at the same price as that offered by a third party. According to the Supreme Court's ruling on October 16 2024 (Case No. SKC-77/2024), if a building and land have different owners, pre-emption rights must be respected by the building's co-owners, not the land co-owners.

It is important to note that pre-emption rights cannot be waived—even though many co-use agreements attempt to do so.

What is a Co-use Agreement?

A co-use agreement is a written agreement between co-owners specifying:

• How apartments and spaces are used in practice;

• Rules for maintenance of shared parts;

• Division of costs;

• Use of communal areas (e.g., basements, attics);

• Decision-making procedures.

This agreement is a crucial tool for maintaining order among apartment owners in a co-ownership arrangement.

Common Disputes

Owning an apartment in co-ownership can lead to various disputes:

• Conflicts over usage of premises;

• Disagreements on cost-sharing;

• Objections to repair or management decisions;

• Lack of cooperation by one co-owner.

Without a co-use agreement, such disputes often escalate to court.

How to Get Out of Co-ownership

There are several options:

1. Convert the building into separate apartment properties;

2. Sell your share to other co-owners;

3. File a court application for termination of co-ownership.

However, conversion can be limited by local spatial plans, minimum land plot sizes, or the need for a detailed plan.

How Legal Point Can Help

The law firm Legal Point provides comprehensive legal support on co-ownership matters—from drafting co-use agreements and evaluating ownership structures to representation in partition or termination proceedings. Our experienced attorneys can:

• Advise on buying or selling co-ownership shares;

• Legalize the existing use of the property;

• Assist in terminating co-ownership status;

• Resolve disputes between co-owners.

Write to us at This email address is being protected from spambots. You need JavaScript enabled to view it. or visit us for a consultation – Ernesta Birznieka-Upīša Street 13, Riga (Felicity project, 1st floor).

We are proud to announce that SIA Legal Point has joined the theIntelligent Space community – an ecosystem and initiative by The Intelligence Venture Capital (The Intelligence VC) that brings together ambitious founders, investors, operators, and thinkers committed to building the future with purpose, trust, and long-term perspective.

What is theIntelligent Space?

theIntelligent Space is not just a network — it’s a shared mental space. A digital and human infrastructure for meaningful exchange between people who think in decades, not quarters. It connects those who go beyond “scaling fast” and aim to scale wisely, combining execution with deep reflection, purpose with performance.

Built around the values of openness, commitment, and trust, theIntelligent Space is a place where founders and contributors are not just resources — they are people with vision, experience, and a willingness to build resilient ecosystems together.

“This is a space for people who think, feel, and act — not in isolation, but in meaningful connection.”– theintelligent.space

Why Legal Point joins theIntelligent Space

At Legal Point, we believe the future of law lies in strategic alignment with the businesses we serve. Legal frameworks should support innovation — not restrict it. Joining theIntelligent Space is our way of stepping deeper into the European tech and venture capital ecosystem, contributing not only our legal expertise but also our long-term thinking.

Through this community, we aim to:

• Engage with visionary founders and investors across Europe and the Baltics;

• Offer legal clarity and structure in complex regulatory, fundraising, and scaling processes;

• Actively participate in closed conversations, events, and thematic working groups;

Bridge the gap between legal constraints and entrepreneurial ambition.

We see our role not as external consultants — but as integrated legal partners who understand the rhythm of innovation.

What we offer the community

• In fast-moving environments, legal simplicity is power. We specialize in:

• Legal structuring of venture and growth-stage companies;

• Investor-ready documentation and shareholding models;

• Employment and governance solutions for remote-first teams;

• Licensing and compliance for regulated industries (e.g., fintech, real estate, capital markets).

We’re here to support those who move fast without losing legal ground.

What’s next?

We’re excited to contribute to theIntelligent Space through dialogue, support, and shared experience — and to grow alongside founders and partners who believe that integrity and clarity are key components of sustainable growth.

Let’s build wisely. Think long-term. And stay legally ready.

If you’re a founder, investor, or operator shaping the next decade — reach out. We’d love to support your mission.Write to us at This email address is being protected from spambots. You need JavaScript enabled to view it. or visit us for a consultation – Ernesta Birznieka-Upīša Street 13, Riga (Felicity project, 1st floor).

Legal Point starts cooperation with BCM Group - new opportunities in workforce

We are pleased to announce the launch of a new and strategic cooperation between Legal Point and BCM Group, a company well-known in the field of recruitment and workforce management internationally.

What is BCM Group?

BCM Group is a multinational company from India with many years of experience in providing workforce solutions to a variety of industries, including:

• For construction,

• Logistics,

• For production,

• For the services sector.

The company offers not only qualified and experienced staff, but also flexible and personalised solutions to adapt to each client's needs. BCM Group's main goal is to provide a high quality workforce that helps companies achieve their business goals more efficiently and faster.

What does cooperation with Legal Point bring?

Legal Point to expand its services to our clients:

• Skilled labour for different sectors,

• Full document preparation and legal support,

• Recruiting, screening and matching your workforce to your company's needs,

• Support in obtaining work visas and residence permits for foreigners.

What are the benefits of this cooperation?

1. Efficiency: fast and high-quality recruitment.

2. Security: all legal and employment matters are handled professionally and in accordance with the law.

3. Flexibility: we offer solutions for both long-term and short-term needs.

Why choose Legal Point and BCM Group?

Legal Point and BCM Group combine experience, expertise and international capabilities to provide the best solutions in workforce management. Our common goal is to support our clients by providing them with a range of reliable and quality services that promote business growth.

If you would like to find out more about cooperation opportunities or get advice, please contact us:
📧 This email address is being protected from spambots. You need JavaScript enabled to view it.
📞 +371 22317588

Legal Point - Your trusted partner for legal and business solutions