Get PA Third Party Agency (TRA) Registration Application - City Of Pittsburgh 2020-2024

Homeowners do not own the land that their home is on. There is a cap on resale profits when a homeowner decides to sell. CLTs must compete with other nonprofit housing organizations for limited resources.

Land Trusts To set up a land trust you need two documents. The first document is the trust itself that names the settler, trustee, and the beneficiaries. Then you need the deed that transfers the title to the property from the settlor to the trustee.

As of 2021, there are more than 260 community land trusts (CLTs) in the US21, 22.

Land trusts are non-profit organizations whose mission is land and water conservation. Land trusts conserve open space, wildlife habitat, waterways, and agricultural lands -working in partnership with private landowners- to preserve Texas for future generations.

Grants typically come from government sources or private foundations. One of the premises of the CLT model is that these subsidies are recycled later to reclaim the value of the subsidies and to benefit future homebuyers. Public subsidies are no longer needed when a CLT house is sold under the resale formula.

A recap of community land trusts: The private property to be purchased by city government or “the community” would be “in perpetuity” – forever removed from private property ownership, becoming instead, “community-owned” property, or “communal” property – a socialist program.

Community trusts are 501(c)(3) organizations designed to pool funds together to help fund projects in a community. These trusts can be used for a variety of needs such as scholarships, environmental projects, preservation, and affordable housing.

To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.

Homeowners do not own the land that their home is on. There is a cap on resale profits when a homeowner decides to sell. CLTs must compete with other nonprofit housing organizations for limited resources.

Community land trusts create and preserve affordable homeownership opportunities by retaining ownership of land and leasing it under a long-term ground lease to homebuyers who purchase the improvements on the land (typically, houses) at prices below market rates.