H Ludi Tyler wrote:
I suppose technically a trust does not keep land in the family, because the land is owned by the trust (or the trustee ). But theoretically it can help keep land from being sold or misused.
And that's virtually 100% of what I know (or think I know) about land trusts.
The Permaculture Design Manual has a hole chapter on setting up your institute or land trust, I believe it was coined as EarthBank back in those days.
They keep to keeping the trustee's in line is by creating a document of trust. Trustee's are supose to uphold the guidlines of the trust, so if you got an evil cousin let's say who trying to sell the land 5 generation's from now, the rule's of the trust can be so written to kick him out as trustee for doing so.
The only real way your trust can fail is if nobody in the family want's to be a trustee.
In permaculture trust, that's usually when the last line says which trust the asset's and resources will be donated to.
So it's not bombproof that there's any way to force a family to uphold what you personally want for generation's to come, but you can buttress the land against being a tradable commodity.
I would rather have a stranger that uphold's the directive's and principles in the document of trust, than a family member who's only interest is what they can get out of it. As the stranger may love the land and believe in what I believe in, and the family member could drill for oil on the place.
You kind of have to decide if the Trust is for the Land's sake or the family's sake, cuzz those can be seriously two different document's of trust.
Brenda Groth wrote:
husbands parents put their land and home and everything they owned incl bank accounts into a living trust with my husband as the trustee when they would die..and it made it completely ours when they died, no government interference..
Are you worried about a scenario in which a non family member trustee like an evil daughter-in law would draw up some clause where she can dictate who abides by the rules of the trust and is allowed on the land and who is not. The kind of thing you'd only expect in a soap opera, but seriously can happen in real life. The land belong's to the Trust, trustee's have a job to run the business of the trust, but they themselves do not dictate the terms of the trust. To oust someone is to prove there not following the trust. The cousin who allow's atv's to tares up the place and dump garbage, cannot be an administrator of the trust.
A land trust can have rules of use of it's asset's and so on, you can give someone a 99 year lease for a $1, you can eject people for violating the trust by adding too many goats. How you get the goat's off is your grand-children's children's problem.
It's something to do with all your asset's while your living, not in the case your dying.
Well this is pretty sad, where all here chopping it up on how to go about protecting asset's from individuals and their creditors and there's a stinking Ehow on land trusts.
Kathleen Sanderson wrote:Does anyone know if the United States has anything similar to what Burra describes?
Yes, you just write it into the deed. We had that with the previous owner of our land. He had a lifetime tenancy right to use a forty acre parcel which was where he had been born. He came in the fall and hunted.
Sugar Mountain Farm
Pastured Pigs, Sheep & Kids
in the mountains of Vermont
Read about our on-farm butcher shop project:
I have also seen towns sell of land that was given to them in trust. They were supposed to keep it open for public use and they sold it for profit. Bad.