Commonhold and Leasehold are two types of property ownership in the UK. In a commonhold, individuals own their individual units, such as flats, and share ownership of common areas, like hallways and gardens. This system allows residents to have more control over their property and the management of shared spaces. In contrast, leasehold means that a person owns a property for a set period, usually decades, but does not own the land it sits on. The land is owned by a freeholder, who may charge ground rent and has certain rights over the property. Leaseholders must follow the terms of their lease agreement.