The home buyer pays a $50 a month fee to own the right to occupy the land through a 99-year leasehold agreement.The homeowner can use the land for any residential purpose and activity permitted by local zoning laws during their occupancy.

No. Once you qualify for and purchase a land trust home, your income is not monitored.

SCLT home ownership means that you are able to purchase a home at a lower price because the land remains a part of the land trust. In order to ensure affordable housing for future generations, the land will not be sold.

To preserve the land trust model, the SCLT asks homebuyers to invest in the program by paying a $50 monthly fee into the fund. This fund will enable the SCLT to provide loans for major repairs when an SCLT property owner has been unable to save for them or access funding from a lender.

A Community Land Trust or CLT is a non-profit organization that provides access to affordable home ownership. CLTs sell homes to people who are credit-worthy with low to moderate incomes. While buyers own the house, the land beneath their home belongs to the CLT. The homeowner holds rights to the land by paying a small fee through a leasehold agreement.

CLTs create opportunities for home ownership by utilizing a shared appreciation model. When homeowners sell their homes, the resale price is based on a formula designed to provide a fair and reasonable rate of return, enabling homeowners to regain their initial investment plus a fair share of appreciation of their homes. The profits shared with the land trust help keep the home’s price within reach for future income qualified buyers.

The stable and secure housing made possible by CLTs enables many individuals and families to invest in their own future, improve their financial status, and positively contribute to the economic development of the community.

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