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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]
In an irrevocable trust, there has developed a growing use of a so-called trust protector. This is generally an unaffiliated, third party (often a lawyer or an accountant) who is granted the power to amend or change the terms of the trust in order to accommodate unexpected changes in tax or fiduciary law, unexpected changes in the trust's ...
Irrevocable trust: In contrast to a revocable trust, an irrevocable trust is one in which the terms of the trust cannot be amended or revised until the terms or purposes of the trust have been completed. Although in rare cases, a court may change the terms of the trust due to unexpected changes in circumstances that make the trust uneconomical ...
The community land trust model already has begun expanding across St. Lucie County, Tasca said. She pointed to Habitat for Humanity of St. Lucie County, which recently adopted it for the homes it ...
A family trust is an estate planning tool that can preserve your family's wealth across generations. Here's how they work and how to set one up.
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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.
The Land Trust for Tennessee is a non-profit conservation organization working to protect Tennessee's natural, scenic, and historic landscapes and sites. [1] Since 1999, The Land Trust has conserved more than 135,000 acres (550 km 2) of land across 65-plus Tennessee counties.
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