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I think a lot of these organizations have set themselves up in a way that if they cease to exist, the land isn’t available as an asset for private sale.
by dghlsakjg 3y ago
I think a lot of these organizations have set themselves up in a way that if they cease to exist, the land isn’t available as an asset for private sale.
- pavel_lishin 3y agoHow does that work? If the organization goes bankrupt, or ceases to exist, how would the land not be treated as an asset?
- Guvante 3y agoYou can sell or give away the right to develop the land. Similar to HoAs you can restrict the usage of your land and as long as someone else holds the keys to unlocking that usage it will survive bankruptcy. The title would retain the restrictions. It needs to be an entity due to no rules from private entities lasting forever, by making some entity control the release it isn't you deciding to persist but them. It isn't foolproof of course but avoids the simplest failure modes.
- quickthrowman 3y agoA perpetual conservation easement or conservation covenant stays with the land even after it changes hands, at least in the US.