Common Property: A Comprehensive Guide to Shared Ownership

Q: Can common property be sold?

Yes, but all owners must agree to the sale, and the process may be governed by the association s rules.

Q: What happens if there is a dispute over common property?

Disputes may need to be resolved through mediation, arbitration, or legal action, depending on the governing documents and state laws.

Definition & Meaning

Common property is real estate that is jointly owned by two or more individuals without the right of survivorship. Each owner holds an undivided interest in the property, meaning they share equal rights to use and enjoy the property. This term can also refer to areas owned collectively by a group, such as the shared spaces in a condominium, which includes amenities like driveways, parking lots, elevators, and recreational areas. Additionally, common property can encompass government-owned spaces intended for public use, such as parks and gardens.

Table of content

Legal Use & context

Common property is often encountered in real estate law, particularly in contexts involving condominiums, cooperatives, and homeowners' associations. Legal issues may arise regarding the management, maintenance, and use of these shared spaces. Users can manage some aspects of common property through legal forms and templates available from resources like US Legal Forms, which can help in drafting agreements or bylaws related to the use of common areas.

Key legal elements

Real-world examples

Here are a couple of examples of abatement:

Example 1: In a condominium complex, all unit owners share ownership of the swimming pool, gym, and landscaping. These areas are maintained by a homeowners' association, which sets rules for their use.

Example 2: A group of friends purchases a vacation home together. They own the property as common property, sharing the responsibilities and rights to use the home equally. (hypothetical example)

State-by-state differences

Examples of state differences (not exhaustive):

State	Common Property Regulations
California	Common property in condominiums is governed by the Davis-Stirling Common Interest Development Act.
Florida	Florida Statutes Chapter 718 outlines the rights and responsibilities of condominium owners regarding common areas.
New York	New York's Multiple Dwelling Law addresses common areas in residential buildings.

This is not a complete list. State laws vary, and users should consult local rules for specific guidance.

Comparison with related terms

Term	Definition
Joint Tenancy	A form of ownership where co-owners have the right of survivorship, meaning if one owner dies, their share automatically goes to the surviving owner(s).
Tenancy in Common	A type of ownership where two or more people hold title to a property, but each owner has a distinct share and no right of survivorship.
Common Interest Community	A community where property owners share ownership of common areas and facilities, often governed by an association.

Common misunderstandings

What to do if this term applies to you

If you are involved in a situation involving common property, consider the following steps:

Review the governing documents of the homeowners' or tenants' association to understand your rights and responsibilities.
Use legal templates from US Legal Forms to draft agreements or rules related to the use of common areas.
If disputes arise, consider seeking legal advice to navigate the complexities of common property laws.

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Quick facts

Common property is owned by two or more individuals.
There is no right of survivorship in common property ownership.
Management is typically overseen by an association.
Common property can include both residential and public spaces.

Key takeaways

Frequently asked questions

What is the difference between common property and joint tenancy?

Common property does not include the right of survivorship, while joint tenancy does, meaning that in joint tenancy, the share of a deceased owner automatically passes to the surviving owner(s).