Definition of 'Land Trust'
There are two main types of land trusts: conservation land trusts and community land trusts. Conservation land trusts acquire land for the purpose of protecting it from development. They may own the land outright or hold it in a conservation easement, which is a legal agreement that restricts the use of the land to certain purposes. Community land trusts acquire land and then sell or lease it to low-income individuals or families. The trust retains ownership of the land, which helps to keep housing costs affordable.
Land trusts can be created by individuals, families, or organizations. They are typically governed by a board of directors, which is responsible for setting the trust's policies and managing its assets. Land trusts can be funded by donations, grants, or government loans.
Land trusts play an important role in protecting land from development and providing affordable housing. They can also be used to promote community development and environmental conservation.
Do you have a trading or investing definition for our dictionary? Click the Create Definition link to add your own definition. You will earn 150 bonus reputation points for each definition that is accepted.
Is this definition wrong? Let us know by posting to the forum and we will correct it.