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and prior to that?
editWhat is the terminology for what preceded this? What was it called when someone owned a flat in a building, along with other flat owners?
--Jerome Potts 06:13, 25 August 2007 (UTC)
- There wasn't any similar estate in land. Prior to this (and in practice still currently) flats in a building were/are "owned" on a long lease, the length of which makes it virtually identical to a freehold but which is still a diminishing asset over 99 or 125 years and subject to the reversion to the landlord at the end (although the law provides protection to the tenant from being dispossesed of their property). DWaterson (talk) 23:18, 26 February 2008 (UTC)
sorry to have to disagree here. Commonhold at best it is a new species of freehold, but is not a new legal estate in land. The unit holder owns the "freehold title" to their flat, shop etc and the common parts "Freehold tile" is owned by a Commonhold association which is a limited company. The Ltd company being made up unit holders each having having one share.