Frequently Asked Questions
Q: What is a Community Land Trust (CLT)?
Community Land Trusts (CLTs) are non-profit organizations that help make homes and other land (such as community gardens, commercial space, housing) affordable and accessible. For most CLTs, affordable housing is the highest priority.
Q: Do I own the land?
No. CLT retains ownership of the land in order to ensure that the house remains affordable.
To clarify this point, the ground lease agreement is the key document that ties the land and the house together and is the legally enforceable way to ensure the program requirements are met. This document articulates the “pay-it-forward” approach, allowing the affordability of the home to be kept for the community and future buyers, securing you modest equity when you sell and requiring the home remain your primary residence while you own it.
Most importantly, you are responsible for the land and have the right to landscape and engage in all typical home-owner activities. This is your home—you get to enjoy all the security, control, tax advantages, and equity building opportunities of homeownership.
Q: Can I leave my home to my children?
Yes. The ground lease that secures your use of the land is for 99 years and is renewable and inheritable. This means that you could stay in your home for as long as you live, bequeath the home and the right to use the land to your children and they could do the same—on and on across generations.
Q: What is the ground lease fee?
Homeowners pay a nominal $20-30 monthly ground lease fee to support us organizationally and continue our non-profit work.
Q: What about selling my home?
You can sell your home to any income-qualified homebuyer. TLC helps households in selling their home; but you are welcome to find a buyer (friend or relative even) for your home.
Q: When I sell, how is the price determined?
Your selling price starts at your investment in the home (mortgage + down payment - closing costs) and grows with your share of the equity from the increase in the value of your home gains over time.
Q: How can I purchase a CLT home?
Call 850-222-6609 x100 and ask to be placed on the CLT Interested Buyer List. You will receive information on the next steps in the process.
Community Land Trust