shared ownership
nounUK /ʃɛəd ˈəʊnəʃɪp/
US /ʃɛrd ˈoʊnərʃɪp/
A way for people to own something together, like a house, by each paying for a part of it.
With shared ownership, the family bought half of the house and paid rent on the other half.
RELATED WORDS
OTHER MEANINGS
2. A business arrangement where two or more people or groups own a company or property together.
The two friends set up shared ownership of their small bakery.
3. A housing scheme where you buy a share of a home and rent the rest from a housing association.
Shared ownership helped them get on the property ladder with a smaller deposit.
4. The state of a resource or item being used and cared for by a whole group rather than one person.
The community garden works through shared ownership, with everyone helping to look after it.