Thank you two for the input. The theme is based not on socialism but rather what happens in monastic orders that are canons regular. Their vow of poverty according to their rule of life causes some types of possessions of the members being converted to communal property. It's a way of learning to detach from created goods. My own experience, in a different type but similar religious order, was the sharing of my board games with my brothers during my time of discernment. This is referred to as possession in common, which sounds cooler than Common Property but also sounds like some kind of demonic possession if unfamiliar with religious orders and religious life.
I want to try and keep the communal effect in place, while balancing this a bit. I could limit the use of the cards presented to a fixed amount, say 3. This would mean in a 4 player game, all cards presented could be used, and 5 or 6 players starts leaving cards out..increasing the tension and maybe filling in some of that silence between turns.
As to the interpretation, spineflu got my gist right. I want to allow the one playing the card to use the action/night/treasure cards without having to grant extra +actions, +$, etc. The rule for Durations and Reserves would only allow the part that goes into immediate effect to take place and then the later effect would be canceled out since the card returns to their respective player hands. First card I think of that allows a player to play a card without extra actions is Throne Room, so I could just take away "during the rest of your turn."
As for the reward of just +2 cards, I take it back. If another player set's aside their own Common Property, the cards would chain, and another round of bonuses could occur.
I've upped the price to $4. Since this could in theory act like a Throne Room or a King's Court, but gives advantage to your opponents. Might need to be a $5 though.
Here is version 1.1