Common Good can apply to both common good assets such as land and buildings and common good funds, and these are generally usually held and managed for communities by local authorities.
There is provision in the Community Empowerment Act Part 8, that places a statutory duty on local authorities to establish and maintain a register of all property held by them for the common good. It also requires local authorities to publish their proposals and consult community bodies before disposing of or changing the use of common good assets.
Common good assets may be subject to Asset Transfer Requests from eligible community groups via local authorities under Part 5: Asset Transfer. Such assets should be classed as either inalienable or alienable common good and, if deemed to be alienable, then their transfer is considered in the same manner as a local authority asset. If, however, an asset is designated as inalienable common good, then any transfer is much more challenging as the local authority may not lease or sell the asset without the prior approval of a court. This will entail additional expense and work for the local authority, and there is always a risk it may not give in the desired outcome.