term:

Common

common adj

1 a : of or relating to a community at large
: public [ defense]
b : known to the community [a thief]
2 : belonging to or shared by two or more persons or things or by all members of a group [when the insured and the beneficiary perish in a disaster] [ areas of the building]
3 : of or relating to common stock [ shares]
n 1
pl

cap
: house of commons
2 : the legal right of taking a profit in another's land in common with the owner or others [the of estovers] [the of pasture]
3 : a piece of land subject to common use: as
a : land jointly owned and used esp. for pasture
b : a public open area in a municipality
4 : a condition of shared ownership
: a condition in which a right is shared with an interest held by another person [held the estate in ] see also tenancy in common at tenancy compare severalty
5 : common stock at stock

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.