Commonhold
Commonhold is a new type of property ownership, an alternative to the long leasehold system. It allows freehold ownership of individual flats, houses and non-residential units within a building or an estate. Ownership is not limited by time as it is with a lease.
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Articles in this category
The Commonhold Community Statement (CCS)
The CCS is the central and most important document in the commonhold; it forms the rules governing how the commonhold is used and managed. In a commonhold, the unit-holders are required to contribute financially to the whole and are bound by restrictions and obligations in the use of their unit and the common parts, through the CCS.
Membership, Meetings and Voting
Every unit-holder is entitled to membership of the commonhold association and only unit-holders may be members.
A commonhold can only be created out of freehold land, or a freehold building, and comes into effect when the land is registered at the Land Registry as a commonhold.
The commonhold association is the vehicle which owns and manages the common parts of the building or estate, and to which all unit-holders belong.