0 a system in which a person who lives in a house or flat buys part of it and pays rent on the rest, usually to a local authority (= the government of a town, city, or local area):
More homes for sale and shared ownership are also being provided in an attempt to promote a mixture of incomes on the estate.
She launched yet another shared ownership scheme, designed to encourage the less well-off on to the housing ladder.
Government support for shared ownership schemes has received a cautious welcome.