Commonhold is a system of property ownership in England and Wales. It was introduced by the Commonhold and Leasehold Reform Act 2002 as an alternative to leasehold, and is the first new type of legal estate to be introduced in English law since 1925.
It involves the freehold tenure of part of a multi-occupancy building (typically a flat) with shared ownership of and responsibility for common areas and services.
In the years since the 2002 Act became law, only a handful of commonholds have been registered whilst hundreds of thousands of long leases have been granted during the same period (because they are far more attractive to developers and landlords and, apparently, not unattractive to purchasers and residents).
- Commonhold - what it is and how it works - the British Government's Leasehold Advisory Service
|This page uses Creative Commons CC-BY-SA licensed content from Commonhold on Wikipedia (view authors).|