Difference between revisions of "Land Trusts and Conservancies in California's Central Coast Region"

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(California Code and Land Trust)
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==Definitions==
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==Definition==
 
'''Land Trust''': an agreement whereby a trustee agrees to hold title to property for the benefit of a beneficiary.<ref name="deflandtrust">Definition: Land Trust [http://assetprotectionplanners.com/articles/land-trusts/]</ref> The beneficiary has the right to direct the trustee, based on the established agreement. There are two types of land trusts community land trusts and land conservancies. Community land trusts are nonprofit organizations that work on building assets for a community such as affordable housing, public gardens, and commercial spaces. Land conservancies on the other hand aim to protect flora, fauna, and natural resources, particularly through purchase of and caring for land.<ref name="defcons">Definition: Conservancy [http://www.merriam-webster.com/dictionary/conservancy]</ref>
 
'''Land Trust''': an agreement whereby a trustee agrees to hold title to property for the benefit of a beneficiary.<ref name="deflandtrust">Definition: Land Trust [http://assetprotectionplanners.com/articles/land-trusts/]</ref> The beneficiary has the right to direct the trustee, based on the established agreement. There are two types of land trusts community land trusts and land conservancies. Community land trusts are nonprofit organizations that work on building assets for a community such as affordable housing, public gardens, and commercial spaces. Land conservancies on the other hand aim to protect flora, fauna, and natural resources, particularly through purchase of and caring for land.<ref name="defcons">Definition: Conservancy [http://www.merriam-webster.com/dictionary/conservancy]</ref>
  

Revision as of 01:22, 10 April 2016

Definition

Land Trust: an agreement whereby a trustee agrees to hold title to property for the benefit of a beneficiary.[1] The beneficiary has the right to direct the trustee, based on the established agreement. There are two types of land trusts community land trusts and land conservancies. Community land trusts are nonprofit organizations that work on building assets for a community such as affordable housing, public gardens, and commercial spaces. Land conservancies on the other hand aim to protect flora, fauna, and natural resources, particularly through purchase of and caring for land.[2]

Land Conservancies as non-profit organizations rely on donations, and grants for land acquisition. Conservancies also accept conservation easement that are donated or sold by landowners. A conservation easement is a voluntary, legally-binding agreement between landowner and land trust or government agency that permanently limits land use to protect its conservation.[3] [4].


California Code and Land Trust

There are no specific statutes that deal specifically with land trust; however, there do exist codes that deals with trusts in general. The statutes for land trust fall in the Probate Code of the California Codes. Specifically, section 15604, which deals with non-profit organizations being appointed as trustees. According to CA code a land trust can be appointed a trustee if it meets the following requirements: [5]

  • The corporation is incorporated in this state.
  • The articles of incorporation specifically authorize the corporation to accept appointments as trustee.
  • For the three years prior to the filing of a petition under this section, the nonprofit charitable corporation has been exempt from payment of income taxes pursuant to Section 501(c)(3) of the Internal Revenue Code and has served as a private professional conservator in the state.
  • The settlor or an existing trustee consents to the appointment of the nonprofit corporation as trustee or successor trustee, either in the petition or in a writing signed either before or after the petition is filed.
  • The court determines the trust to be in the best interest of the settlor.
  • The court determines that the appointment of the nonprofit corporation as trustee is in the best interest of the settlor and the trust estate.

Public vs. Private

California Land Trusts

List of Central California Land Trusts

  • Big Sur Land Trust (BSLT)
  • Santa Lucia Conservancy (SLC)
  • Elkhorn Slough Foundation (ESF)
  • Land Conservancy of San Luis Obispo County
  • San Joaquin River Parkway and Conservation Trust
  • California Rangeland Trust
  • Center for Natural Lands Management
  • Pacific Forest Trust
  • Rocky Mountain Elk Foundation
  • Save the Redwoods League
  • The Trust for Public Land
  • The Wilderness Land Trust
  • Wildlife Heritage Foundation
  • Land Trust of Santa Cruz County
  • Pacific Forest Trust
  • Peninsula Open Space Trust (POST)
  • Sempervirens Fund

Links

References

  1. Definition: Land Trust [1]
  2. Definition: Conservancy [2]
  3. Definition: Conservation Easement [3]
  4. The Nature Conservancy explains conservation easements
  5. CA Code Probate Code

Disclaimer

This page may contain student work completed as part of assigned coursework. It may not be accurate. It does not necessary reflect the opinion or policy of CSUMB, its staff, or students.