Present property law in England and Wales effectively requires that flats be leasehold, although some leasehold flats are now sold with a share of the freehold, through participation in a residents' management company. This is not possible in relation to flats owned by High Peak Borough Council because the Right to Manage is not available to leaseholders of a local authority. Legislation introduced in September 2004 allowed for a new form of tenure known as commonhold, where the flat is held on a freehold basis. However this form of ownership has never taken off and there are very few commonhold buildings in the country. High Peak Borough Council only sell flats on a leasehold basis.
