Describe the 'Commonhold' system.

The 'Commonhold' system is defined as a form of ownership where individuals own a unit and share ownership of common parts. This system is designed to promote greater autonomy and security for property owners. In a Commonhold arrangement, each owner has a freehold interest in their individual unit while collectively controlling and managing the common areas of the building or development, such as hallways, gardens, and recreational facilities.

This means that homeowners have a stake in the shared resources and can make decisions regarding the maintenance and management of these areas. It empowers owners to be actively involved in the governance of their property, which can lead to better care of the common parts and foster a sense of community.

In contrast, other options focus on different aspects of property ownership or management. For instance, the concept of a single owner maintaining an entire building does not reflect the communal aspect inherent in commonhold arrangements. Similarly, leasing property and investing in residential properties do not capture the unique structure and cooperative management shared among owners in a Commonhold setting.