land trust
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Land Trust
1. A trust in which a grantor deposits one or more pieces of real estate. A trustee is given the right to manage the real estate. All profits or other gains are given to a beneficiary chosen by the grantor.
2. A government or private nonprofit organization responsible for managing and conserving real estate, especially undeveloped or unspoiled land. Such trusts exist to prevent environmental degradation of the land.
2. A government or private nonprofit organization responsible for managing and conserving real estate, especially undeveloped or unspoiled land. Such trusts exist to prevent environmental degradation of the land.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
land trust
A trust in which land is the only asset. See trust.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.