Common Property Legal Meaning and Definition

Here is a simplified definition of the legal term Common Property.

Common Property (noun)

Common Property refers to two key concepts.

1. It refers to property that is owned, regulated, and maintained by the government, often used for public benefit. This type of Common Property can include items such as public parks, gardens, forests, and other public spaces.

2. It can also refer to property jointly owned by multiple tenants, where each party possesses an equal, indivisible interest in the entire property. These co-ownerships typically see the property as a single, unified entity, rather than being divided into separate units.

In both of these contexts, the term highlights shared ownership and use.