Blencathra has been listed as a community asset by Eden District Council.
The sale of the Cumbrian fell was agreed with an unnamed bidder for more than the asking price of £1.75 million on Friday.
Community group Friends of Blencathra were disappointed not to win the sale but say they are delighted the mountain has been designated a community asset.
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Kerrie Gosney brings you Sunday night's forecast
The party leader said her MPs may be in a position to act as deal makers - and they would refuse to allow an exit from the EU.
Rain spreading east Sunday. Decent day on Monday, more changeable thereafter