Asset Transfer is a term used to describe the process of the transfer of the ownership (or leasehold) of property or land from one party to another. Currently, the term is being used in the context of the transfer of public sector assets to third parties – including the voluntary and community sector. Government is currently encouraging local authorities to review their buildings and land for opportunities to transfer these assets to community organisations. They have the power to dispose of land and buildings at preferential rates – often under market value – if a wider community benefit can be realised through the transfer.

Asset transfer can help to secure community use of buildings and provide a development opportunity for local community and voluntary organisations. But, like any major development, it also carries risks and groups considering asset transfer need to do a lot of work before pursuing it.

This overview explores some of the key issues involved in the transfer of land or buildings to voluntary and community organisations.