The land trust buys the property from the landowner. Sales for less than market value, called bargain sales, reduce the cost to the trust and offer tax benefits to the seller. The landowner sells or donates the land, but retains the right to live on it throughout his or her lifetime. The landowner enters into a perpetual legal agreement with the land trust that permanently restricts harmful uses and development of the property. The land stays in private ownership and use, and the land trust sees that the restrictions are carried out.
Conservation easements are custom tailored to each situation.
Often, the landowner reserves the right to construct a few homes on the property. Land trusts are community organizations and hence understand and are responsive to the special needs of our community. Land trusts can help landowners obtain professional assistance in estate planning, tax and conservation law, and land planning. As private organizations, land trusts offer quick response, flexibility, and confidentiality. They may be effective where government action falls short.