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Though Alabama A&M is Alabama's official 1890 Morrill Act institution, the mission and unique history of Tuskegee are so similar to those of the 1890 institutions that it functions as a de facto land-grant university and is almost universally regarded as one of them. Tuskegee is a land-grant member of APLU, as are Alabama A&M and Auburn.
It ruled that if a land trust was set up with some minor duty on the trustee (such as to deed the property to the beneficiaries 20 years later), then the trust would not be considered passive and would be valid. Thus, the land trust in America today is often called an "Illinois-type" land trust or "Illinois Land Trust". [2]
Texas Pacific Land Holdings was created in 1888 in the wake of the Texas and Pacific Railway bankruptcy, as a means to dispose of the T&P's vast land holdings. Over 3.5 million acres were put into the trust, and bondholders exchanged their bonds for shares. [3]
A trust generally involves three "persons" in its creation and administration: (A) a settlor or grantor who creates the trust; [11] (B) a trustee who administers and manages the trust and its assets; and (C) a beneficiary who receives the benefit of the administered property in the trust.
To be valid in equity, a trust must satisfy the following elements: Property or rights of a kind which can be the subject of a trust; A declaration of trust or disposition on trust by a person legally competent to create a trust; Certainty of property and objects (trust must be administratively workable) Compliance with requirements regarding ...
Originally formed as the Land Trust Exchange in Boston on February 22, 1982, Allan Spader was named its inaugural director. [3] In 1990, the name of the organization was changed to the Land Trust Alliance and was moved to Washington, D.C. [3] The Land Trust Alliance has sponsored "Rally," a yearly conference of conservation professionals, since ...
Hybrid trust: Combines elements of both fixed and discretionary trusts. In a hybrid trust, the trustee must pay a certain amount of the trust property to each beneficiary fixed by the settlor. But the trustee has discretion as to how any remaining trust property, once these fixed amounts have been paid out, is to be paid to the beneficiaries.
A community land trust or (CLT) is a nonprofit corporation that holds land on behalf of a place-based community, while serving as the long-term steward for affordable housing, community gardens, civic buildings, commercial spaces and other community assets on behalf of a community.