The Basic Space is a very common space found only on duel boards in Mario Party 3. If a player lands on a Basic Space, he or she will "own" it, and have their face appear on the space. If another player lands on this space from now on, then they'll lose an amount of coins (depending on game turns) to the player who owns the space. If a player lands on their own space, they will get the same amount of coins.
However, in the manual, the Basic Space was referred to as the "Normal Space".