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commonhold
/ ˈɒəˌəʊ /
noun
- 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
The government said it wanted to move to a way of building homes that was more in line with the rest of the world, known as commonhold, where homeowners owned a share of and had control over buildings they lived in.
A white paper published on Monday stated the sale of new leasehold flats would be banned and commonhold "reinvigorated" with a new legal framework.
A draft Leasehold and Commonhold Reform Bill - including the detail of how the new system would work - will be published later this year, the government has said.
Kasia said she would like more control over her service charges but the government's commonhold proposals were for new builds, so would not help her in her current situation.
Under a commonhold system, residents would have more autonomy over what they pay and who they appoint to do maintainence, the government said.
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