Definition of commonhold in English:

commonhold

noun

British
  • [mass noun] A system of freehold tenure of a unit within a multi-occupancy building, but with shared responsibility for common services:

    [as modifier] ‘a commonhold association’
    • ‘A new way of owning property, commonhold, became law.’
    • ‘Homeowners with leasehold or commonhold properties will also need permission from the freeholder.’
    • ‘The commonhold system allows indefinite freehold ownerships of individual flats, houses and non-residential units within a building or estate.’
    • ‘An additional hurdle for existing leaseholders is that they must gain agreement from the freeholder if they wish to convert from leasehold to commonhold.’
    • ‘We could buy the lease, or take it over on a commonhold basis.’

Pronunciation:

commonhold

/ˈkɒmənhəʊld/