Guidance for Owners

Unless an exemption applies you will now only be able to dispose of your asset after a specified window has expired.

The first window is a period of 6 weeks, i.e. the Interim Moratorium period. This time allows community interest groups to express an interest in bidding for your asset.

If a written request is received by a valid community interest group, the moratorium period will be extended to be 6 months in total. If no request is received, the moratorium will end after the initial 6 weeks and you will be able to sell to whomever you choose.

The full moratorium is designed to give local community groups time to raise the funds to purchase the asset. During this period you are allowed to market the property and negotiate sales, but you cannot exchange contracts or enter into a binding contract to do so later. The only exception to this, is that you may sell to a community interest group during the moratorium period.

Following the moratorium period you will be free to sell to whomever you choose. Please note that if you feel you have incurred loss or expense as a result of the asset being listed you have a right to claim compensation for this loss/expense.

If your asset/land is still on the market after 18 months of you notifying us of the sale, a new moratorium period will commence, and the above process will begin again.