From a comment in The Guardian:

Each time a school becomes an academy the council must hand over the title deeds for the school if it has them (avg value £5m per school).  As over 2,000 schools have been forced to become academies that is £10 billion (min) state assets Michael Gove has demanded the title deeds be handed to him.

If true, very disturbing .  I must admit I wondered who owned these state maintained schools.