common property
common property see property

Merriam-Webster’s Dictionary of Law. . 1996.

common property
in Scots property law, the right of ownership of a number of people over the one thing. In case of dispute, the thing or land may be divided or sold and the proceeds of the sale divided. Compare common interest.

Collins dictionary of law. . 2001.


common property
Property owned by two or more parties.
Category: Real Estate & Rental Property

Nolo’s Plain-English Law Dictionary. . 2009.

common property
n.
   1) real property owned by "tenants in common," who each have an "undivided interest" in the entire property.
   2) property managed by a homeowners' association in a condominium project or a subdivision development, which all owners may use and each owns a percentage interest in.
   3) lands owned by the government for public (common) use, like parks and national forests.

Law dictionary. . 2013.

Look at other dictionaries:

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  • property — prop·er·ty n pl ties [Anglo French propreté proprieté, from Latin proprietat proprietas, from proprius own, particular] 1: something (as an interest, money, or land) that is owned or possessed see also asset, estate, interest …   Law dictionary

  • common ownership — ➔ ownership * * * common ownership UK US noun [U] ► LAW a situation in which several related companies, etc. are owned by one person or organization: »The BBC offers a variety of opinions despite common ownership of all its channels. »The… …   Financial and business terms

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