Ours is owned by a land trust.
There are upsides and downsides to communally owned land. Everyone here has " ownership" of their own structure but not the land it's on, like a mobile home. There are no deeds (which is causing issues for an absentee member that want to sell her structure but no one here wants to buy it, and she can't find anyone interested in both paying her price and living with the rest of us... Giggle). The founder has no special rights or privileges, but since he's been here longest, and he's oldest, and he knows most about maintenance... He gets a lot of deference.
The land trust protects us all, because the land can not be inherited if someone dies, or sold, or clear cut... It has to be used for the community into perpetuity.
That's a big comfort since I know of communities that have been destroyed when someone died unexpectedly, and the kids inherited/sold the land off. Or someone got serious ill/injured and needed money for medical expenses...
Consider all this before planning?