Selling an asset
If you own land or a building that is listed as an asset of community value, you must give us notice before you can sell or dispose of it, and must pause the sale for a period of up to 6 months. This is known as a moratorium period.
Appeal a decision about your asset
If you own an asset which is included in the list of community assets, you can ask us to review our decision.
You must make your request:
- in writing
- within 8 weeks of the date upon which we provided you with written notification of our decision (or longer where we have agreed to this in writing)
Contact us to send your request.
Notify us of your intent to sell
You must notify us in writing of your intent to dispose of your asset. Contact us to send your notification.
We will let you know we have received your notification within 3 working days. We'll also confirm the dates of the moratorium periods.
We will update the list of assets of community value to show that we have received your notification, and the dates of the moratorium periods and protected period.
We will let the community interest group that nominated your asset know that we have received notice of an intention to dispose of the asset and will publish details on Walsall Council’s website.
Interim moratorium period
During the six week period from when we accept receipt of your notice of intent to dispose of your asset, eligible community interest groups can express an interest in being considered as a potential bidder.
Full moratorium period
If an eligible community interest group expresses an interest in bidding on your asset, a full moratorium will be triggered. This means that you can't sell your asset for a six month period, starting from when we accept receipt of your notice of intent to dispose of your asset.
After the moratorium period you can sell your asset on the open market. You do not have to sell the asset to a community interest group. No further moratorium can be applied for an 18 month protected period.
Intention to bid
Community interest groups must submit their intention to bid to us within the six week interim moratorium period.
We will let you know when we receive any intentions to bid for your asset.
This will trigger the full six-month moratorium period during which you cannot sell the asset, except to a community interest group.
Marketing your asset
There is nothing to prevent you from actively marketing your asset during the moratorium period. The restrictions only apply to exchange of contracts on the sale of an asset.
Selling to a community interest group
If you are happy to sell to a community interest group and agree terms within the 6 month period, you can proceed with the sale without waiting for the moratorium period to end.
Selling on the open market
You do not have to sell the asset to a community interest group, and can sell on the open market when the moratorium period ends.