Commentary

7 Commonhold: responses to the problems of leaseholds

COMMONHOLD vol 8(1)
COMMONHOLD vol 8(1) | Commentary

7 Commonhold: responses to the problems of leaseholds

COMMONHOLD vol 8(1) | Commentary

7 Commonhold: responses to the problems of leaseholds

The commonhold system provides a response to the problems identified with leasehold ownership. The response provided does not mean that commonhold is in all circumstances to be preferred to a leasehold system, or indeed to the freehold ownership of interdependent property units. The practitioner cannot view commonhold in isolation. Its advantages and disadvantages must be compared with those of the other options available from the standpoint of developers, the proposed purchasers of the properties and their respective lenders1.

The response, in general terms, afforded by commonhold is as follows:

  1. 7.1

        Permanent non-wasting asset:

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