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A land trust is an organization established to hold land and to administer use of the land according to the charter of the organization. A land trust is a useful way to manage complex divisions of the Bundle of Rights that people can own in real estate, and can be used to manage something as large and complex as a multi-state REIT, or as common and small as a single-family home.
Investment trust companies hold property for investment purposes and non-citizens who want long-term access to land in Mexico often enter real-estate trust agreements, called fideicomiso, with Mexican citizens, but land trust more often refers to a community scale organization. Community land trusts are established to provide low- and middle-income families access to affordable housing and to protect agricultural lands while conservation trusts protect environmentally, historically or culturally valuable places.
Land trust communities trace their conceptual history to India's gramdan s where villages held property in the community interest, and to European and North American land banks, which are quasi-public agencies that invest in land often to help build family farms or to encourage economic development. Residential land trusts emerged in the United States after calls among civil rights leaders in the 1950s and 1960s in the American South for economic reforms to reverse rampant poverty. An Institute for Community Economics was organized in the 1960s to help residential trusts:
Residential community land trusts are now widespread in the United States, but seldom gain much notice beyond occasional local news accounts. The Institute for Community Economics in 2004 reported nearly 120 community land trusts of varied sizes in 30 states, the District of Columbia and in five Canadian provinces. While a few earlier trusts faltered, the number of land trusts in North America overall nearly tripled between the 1987 and 2004.
Community trusts don't typically advertise their goals, but rely on community members and word of mouth to attract new residents. In residential land trusts, the community association usually owns land, while their occupants’ own buildings. Trusts usually retain rights to buy buildings from residents who move out of the community. The goal of residential trusts is often to protect housing prices from real estate speculation and gentrification but to allow residents to accrue equity, including sweat equity.
Conservation trusts often rely on endowments and large donations to acquire sensitive natural areas or notable landmarks, and purchase land to hold it in perpetual protection as open or green space.
A Land Trust Alliance formed in 1981Events January-February January Sarawak Chamber found January 1 Greece enters the EEC January 1 Palau becomes self-governing January 4 Sheffield police arrests Peter Sutcliffe, the Yorkshire Ripper January 16 Protestant gunmen shoot and wound Bernadette D provides technical support to the growing network of land trusts. On the eve of the 21st Century, an Alliance census reported 6,225,225 acres (25,193 kmē) of land was held by 1,263 conservation land trusts, up from 1.9 million acres (7,700 kmē) among 887 trusts 10 years earlier.
Since 1891Events January 1 ? Paying of old age pensions begins in Germany January 20 James Hogg becomes the first native Texan to be governor of that state. January 29 Liliuokalani proclaimed Queen of Hawaii March 9 ? 12 ? Powerful storm off England?s south coast;, when the first US land trust was organized, conservation trusts have been established in each of the 50 states, often as a way of protecting open spaces in the path of urban sprawlUrban sprawl (also called suburban sprawl describes the growth of a metropolitan area, particularly the suburbs, over a large area. In examples of this phenomena, such as Los Angeles, California and Houston, Texas, new development is often low- density, w. Local and regional trusts in California, New York and Montana held the most area among those of states nationwide.
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