Law firm Trowers & Hamlins has advised Your Housing Group on the sale of 145 affordable homes to East Riding of Yorkshire Council under a stock transfer agreement.
The homes, 129 of which are for rent and 16 for shared ownership, will transfer to the council, along with the tenants and leaseholders, whose statutory rights remain unaffected.
Trowers partner Louise Robinson said: "We are proud to have supported Your Housing Group on the sale of these homes to East Riding of Yorkshire Council. During a global pandemic it is of the utmost importance that tenants and leaseholders feel secure, so we are pleased to have been able to advise on a deal that is beneficial for all parties."
Your Housing Group is one of the UK's largest housing providers with more than 28,000 homes, ranging from affordable social housing through to private rent.
Jacque Allen, Chief Operating Officer at Your Housing Group, said: "I would like to thank Trowers & Hamlins for their help throughout the process and for guiding us towards a satisfactory deal that ensures that our tenants and leaseholders will be in safe hands with East Riding of Yorkshire Council."
Cllr Mike Stathers, deputy leader of the council and portfolio holder for housing strategy and affordable homes, said: “I am delighted that the council has been able to work with Your Housing Group, Savills Consultancy and Trowers and Hamlins to deliver this outcome for local residents.