Council Houses - Public Assets?

[nightvision]

Can anyone enlighten me whether council houses are state-owned properties? I know they are council owned but does that also mean they are owned by the State and therefore legally owned by the general public the likes of for example, The Royal Bank of Scotland, The Royal Mint, Lloyds Banking Group etc.?

I think your premise is wrong, the assets such as RBS are owned by the Exchequer not the public. There are no shares in Britain plc. to be distributed in the event of a sale. You can't decide to leave the UK and "cash-in" your share of the public purse.

Why?

Housing stock owned and managed by a council or housing association would be on their financial books as an asset. They are the owner, not central government.