commonhold

commonhold
England, Wales
A form of land ownership in England and Wales, established by the Commonhold and Leasehold Reform Act 2002. It combines freehold ownership of a single property within a larger development, with membership of a limited company that will own and manage the common parts of the development. Although most likely to be used in relation to residential flats, commonhold is also suitable for houses, mixed use and commercial developments.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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