Definitions for "Land Trust"
A private nonprofit organization, under § 501 (c)(3) of the federal tax code, that may receive donations of money, property or development rights, and may use its assets to purchase property or development rights.
Land that is purchased and held by various private organizations specifically for the purpose of protecting its natural environment and biota that inhabit it.
A private, nonprofit conservation organization formed to protect natural resources such as productive farm and forest land, natural areas, historic structures and recreational areas. Land trusts purchase and accept donations of conservation easements. They educate the public about the need to conserve land, and some provide land use and estate planning services to local governments and individual citizens. American Farmland Trust, Farmland Information Center, Fact Sheet, Glossary, September, 1998
A device to hold title to land in a trust with the beneficial ownership held by the landowner.
A trust originated by the owner of real property in which real estate is the only asset. Because the interest of a beneficiary is considered personal property and not real estate, ajudgment against the beneficiary will not create a lien against the real estate. Thus land trusts are popular when there are multiple owners who seek protection against the effects of divorce, judgments or bankruptcies of each other.
a device by which land is conveyed to a trustee for the benefit of another
Keywords:  circumvent, clause, bank, due, sale
a contract that is often used to circumvent the bank's due on sale clause
Keywords:  proven, mechanism, purpose
a proven mechanism for such a purpose