Common property

Common property refers to resources or assets that are owned collectively by a group rather than by an individual. These may include natural resources like forests, water sources, or fisheries, as well as shared spaces like parks and communal lands. The key characteristic of common property is that while no single person has exclusive ownership, the group shares rights and responsibilities in managing and using these resources sustainably. This arrangement aims to balance individual use and collective benefit, promoting cooperation among users to prevent overexploitation and ensure long-term availability for the community.