common property

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. 3) lands owned by the government for public (common) use, like parks and national forests.

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 maybe divided or sold and the proceeds of the sale divided.

Compare COMMON INTEREST.

References in classic literature ?
A word is general when it is understood to be applicable to a number of different objects in virtue of some common property. A word is vague when it is in fact applicable to a number of different objects because, in virtue of some common property, they have not appeared, to the person using the word, to be distinct.
I mean a corps dog--the common property of the organization, like the corps steward or head servant; then there are other dogs, owned by individuals.
At present, a large part of the vacant Western territory is, by cession at least, if not by any anterior right, the common property of the Union.
You see, the whole story is common property. And yet, there's something about the affair that bothers me."
Though Mr Blifil was not of the complexion of Jones, nor ready to eat every woman he saw; yet he was far from being destitute of that appetite which is said to be the common property of all animals.
The intellectual creations of individual nations become common property. National one-sidedness and narrow-mindedness become more and more impossible, and from the numerous national and local literatures, there arises a world literature.
And I think if that pilot had wanted to borrow fifty pounds for an indefinite period on no security, we should have engaged to lend it to him, among us, before his boat had dropped astern, or (which is the same thing) before every scrap of news in the paper he brought with him had become the common property of all on board.
Every one had heard the rumours in question, and he scorned to confirm a tale that was already common property.
Once a week, a boat is sent to deliver the bread which has been baked at an oven - the common property of all.
"It's all common property, Monson--but, what have become of your sister and Mademoiselle Hennequin?
Bast and of no one else, and somewhere about the entree their monologues collided, fell ruining, and became common property. Nor was this all.
We have not been satisfied with establishing such a system of transportation that we can start any day for anywhere from anywhere else; neither have we been satisfied with establishing such a system of communication that news and gossip are the common property of all nations.

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