The purpose of a land trust is to allow one to have the legal title to his property held by another person, or trusteewhile retaining all of the rights and privileges of property ownership (the beneficial interest). The trustee acts only upon the beneficiaries direction. The property owner still retains all rights, such as the right to possession, to collect rent, mortgage the property, homestead exemption, and any other benefit he now has.
What types of land can be protected by land trusts?
Land trusts protect a variety of lands, but many concentrate their efforts on:
Natural habitat for wildlife, fish and plants such as prairies, forests, bluff lands, or wetlands
Watershed areas like lakeshores, rivers, streams, and other natural features
Scenic landscapes, particularly those with local community, cultural or historic significance
Working landscapes like farmland and ranchland have special significance for growing food
What Are a Land Trust’s Responsibilities Regarding Conservation Easements?
The land trust is responsible for enforcing the restrictions detailed in the easement document. Therefore, the land trust monitors the property on a regular basis, typically once a year, to determine that the property remains in the condition prescribed by the easement document.