What's a Land Trust

What's a Community Land Trust

A community land trust (CLT) is a private, non-profit organization created to acquire and hold land for the benefit of a community and provide secure affordable access to land and housing for community residents.  In particular, CLTs attempt to meet the needs of residents not served by the prevailing market.  CLTs prohibit speculation and absentee ownership of land and housing, promote ecologically sound land-use practices, and preserve the long-term affordability of housing.

CLT's obtains ownership of property either by purchasing such property or receiving such property as a charitable contribution through gift or bequest. 

The CLT and the homeowner agree to a long-term ground lease agreement (typically 99-year) that spells out the rights and responsibilities of both parties. Among the homeowner’s rights are the rights to privacy, the exclusive use of the property, and the right to bequeath the property and the lease. The CLT has the right to purchase the house when and if the owner wants to sell. 

CLT’s provide Homeowners with the same permanence and security as a conventional buyer and permit the Homeowners to use the land in the same way as a conventional buyer, but they allow for a lower housing purchase price by excluding the cost of the land.





Read moreOrigins and Evolution of the Community Land Trust in the United States















http://milabrazoscommunitylandtrust.blogspot.com/p/donate.html
Mil Abrazos Community Land Trust is a non-profit project fiscally-sponsored by the 
New Mexico Community Foundation, a 501(c)3
Donations are tax-deductible