Community asset transfer (CAT) is a procedure under United Kingdom law that allows a local community to take on the ownership or management of publicly owned buildings or land, at less than market rates, for the purposes of promoting social, economic and environmental well-being.
[1] A pilot project, Advancing Assets for Communities, took place in Birmingham in 2008.
[3] A national organisation called the Asset Transfer Unit was established to oversee the initiative, and to support both parties in CAT arrangements.
[5][1] Premises subject to the procedure, said to be in community asset ownership, now number in the thousands.
[1] This article relating to law in the United Kingdom, or its constituent jurisdictions, is a stub.