Common Property Law and Legal Definition

Common property refers to real property that is held by two or more persons with no right of survivorship. Each has an "undivided interest" in the property and all have an equal right to use the property.

It can also refer to property equally owned by all members of a group. For example, the owner of the condominium also owns a common tenancy with owners of other units in the common area, which includes all the driveways, parking, elevators, outside hallways, recreation and landscaped areas, which are managed by a homeowners' or tenant's association.

Property owned and governed by the government for common use like parks, gardens, forest are also referred to as common property.