Definitions for commonhold
com·mon·hold

WiktionaryRate this definition:5.0 / 1 vote

1. commonholdnoun

   The freehold tenure of part of a multioccupancy building (typically a flat) with shared responsibility for common services.

WikipediaRate this definition:0.0 / 0 votes

1. Commonhold

   Commonhold is a system of property ownership in England and Wales. It involves the indefinite freehold tenure of part of a multi-occupancy building (typically a flat) with shared ownership of and responsibility for common areas and services. It has features of the strata title and the condominium systems, which exist in Australia and the United States respectively. It was introduced by the Commonhold and Leasehold Reform Act 2002 as an alternative to leasehold, and was the first new type of legal estate to be introduced in English law since 1925.An important difference between commonholds and leaseholds (leases) is that a commonholds is indefinite in time, unlike a leasehold which is only granted for a fixed period of time (the term). As a consequence, a commonhold title is not a depreciating asset, whereas leaseholds lose values as the end of their term (term of years or in extraneous documents sometimes existence) approaches.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. As of 3 June 2009, there were 12 commonhold residential developments comprising 97 units (homes) in England and one commonhold residential development comprising 30 units (homes) in Wales.Where freehold houses should be subjected to positive covenants which force their owners contribute to communal maintenance, such as in garden squares, as few such duties can attach to freeholds, access to such areas can be physically restricted to those who own that area, commonly through a residents' management company. Such a company, if the land was owned by the original landlord such as a developer, may come into the hands of the lessees (tenants) through a statutory process leading to legal agreements or a court order which creates a limited liability right to manage (also known as an RTM) company. A common alternative has been rentcharges where truly necessary services or contributions need to be made which cannot devolve to a local authority or statutory undertaker through adoption.

WikidataRate this definition:5.0 / 1 vote

1. Commonhold

   Commonhold is a system of property ownership in England and Wales. It involves the indefinite freehold tenure of part of a multi-occupancy building with shared ownership of and responsibility for common areas and services. It has features of the strata title and the condominium systems, which exist in Australia and the United States respectively. It was introduced by the Commonhold and Leasehold Reform Act 2002 as an alternative to leasehold, and was the first new type of legal estate to be introduced in English law since 1925. An important difference between commonhold and leaseholds is that commonholds don't depreciate in value in the same way that leaseholds do towards the end of their lease terms. 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. As of 3 June 2009, there were 12 commonhold residential developments comprising 97 units in England and one commonhold residential development, comprising 30 units, in Wales.

How to pronounce commonhold?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say commonhold in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of commonhold in Chaldean Numerology is: 4

2. Pythagorean Numerology

   The numerical value of commonhold in Pythagorean Numerology is: 4

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References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Commonhold
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Commonhold
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=commonhold