commonhold


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commonhold

(ˈkɒmənˌhəʊld)
n
(Law) a form of property tenure in which each flat in a multi-occupancy building is individually wholly owned and common areas are jointly owned
References in periodicals archive ?
THERE was a Westminster Hall debate just before Christmas on reforming the sale of leasehold or commonhold properties.
Other, similar mechanisms include, among others, strata title schemes, horizontal ownership, and, to some degree, the UK commonhold.
The office conversion was managed by Quoin Commonhold Association, formed as an off-shoot by AVAG with six additional individual members.
Under this Act and also the Commonhold and Leasehold Reform Act 2002, you and other leasees in your block having met certain qualifying criteria have the right to communally purchase the Freehold Reversion, although the process can be lengthy.
Financial assistance will be granted to owners registered under the Commonhold Property Management Act , with the owners entitled to up to 50% of the cost of the upgrade.
Legislation, which was originally proposed in the Commonhold and Leasehold Reform Act 2002, but not implemented, would have been far preferable.
It could also include a copy of the lease (if applicable), commonhold documents (again, where applicable), and any other information - including a Property Information Questionnaire (PIQ) - in fact, anything your estate agent feels would help you sell your property.
Indeed, under the Leasehold Reform, Housing and Urban Development Act 1993 (subsequently amended by the Commonhold and Leasehold Reform Act 2002), most lessees actually have a legal right to buy the freehold - oS n condition that at least half of them participate in the purchase.
13) Some condominium statutes, the new English Commonhold and Leasehold Reform Act and the Florida condominium statute, for example, require the directors of the association to assess the desirability of using arbitration, conciliation or mediation procedures instead of legal proceedings or to submit to non-binding arbitration before seeking court action.
Ebenezer Howard's book To-morrow argued convincingly that if the agricultural and town estate were held in commonhold, increases in land value arising from development would not only produce for the community the money to pay for civic and cultural facilities, amenities, and institutions, but could also contribute to education and health services and even pensions.
WE ARE looking to buy a new-build flat and have been told by the builders that it will be available as a commonhold.