| The Community Land Trust Ground Lease
The Ground Lease is the document that establishes and maintains the contractual relationship between the Community Land Trust and its homebuyers. Carefully designed to balance the rights and needs of both the individual homeowners and the community in which they live, the CLT ground lease also articulates the responsibilities of both parties and defines how resales are to be handled and how the resale value and equity to the seller are determined. The recently revised Model Ground Lease, used by all CLT’s as the foundation for their own ground leases, is contained in the CLT Legal Manual available through The Institute for Community Development. www.iceclt.org, as well as on the Burlington Associates website: www.burlingtonassociates.com. This time-tested document is a “must read” for anyone wishing to fully understand how CLT’s preserve affordability of homes over the long term.
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