Question

John and Mary are siblings who inherited a piece of land from their parents. They decided to build a condominium on the property and sell the individual units to interested buyers.

However, disagreements arose between John and Mary regarding the management and distribution of the proceeds from the condominium project. John believes that they should divide the proceeds equally, while Mary argues that the distribution should be based on the percentage of ownership agreed upon by the buyers.

Based on the provisions of the Civil Code (arts. 484-501) and the Condominium Act (R.A. No. 4726, as amended), resolve the following issues:

1. What are the essential characteristics of co-ownership? Explain.
2. Who has the right to manage the co-owned property in this scenario? Discuss.
3. How should the proceeds from the sale of the individual units be distributed in accordance with the laws mentioned? Explain.