commonhold

/ ˈkɒmənˌhəʊld /

noun

1. a form of property tenure in which each flat in a multi-occupancy building is individually wholly owned and common areas are jointly owned

Example Sentences

It plans to publish a Bill introducing a "commonhold" system in which residents own the land beneath their building.

From BBC

The government said commonhold - which exists in Scotland and elsewhere around the world - would be the default system of tenure by the end of the Parliament - and added it that it would be consulting on how to ban new leasehold flats.

From BBC

Announcing a new timetable for reform, Housing Minister Matthew Pennycook said that commonhold - where people own their homes without an expiring lease - will become the default tenure before the next election.

From BBC

As for current leasehold properties, Mr Pennycook said: "We will also engage on the conversion of existing flats to commonhold."

From BBC

It wants ground rent regulated, and to “reinvigorate” commonhold – when flats are owned without an expiring lease and managed collectively.

From BBC