Capital Generation - ProcessFinding the most appropriate land trust to meet your needs
First and foremost is to find the most appropriate land trust to work with. Never forget that they will become your “partner” for the remainder of not only your life but all generations to come. For this reason, you want to find the least intrusive land trust that is only interested in providing farmers and ranchers with a means of protecting their land and way of life from development or a change away from agriculture.
The land trust should also not only encourage you to seek your own legal and tax advice as part of the process but are willing to work with your personal advisors when creating the legal document that will dictate the future between the two parties.
Once you’ve evaluated your options and have decided upon the most appropriate land trust to meet your needs, then the application process begins which will trigger a site visit. As you have evaluated and decided upon the land trust, they too must familiarize themselves with you, your property and your long term goals to determine if you are a fit for them as well.
Some of the required documentation and action items that will take up the bulk of the process will include:
- Completion of a baseline inventory
- Title work ordered
- An appraisal of the property
- Evaluate optional funding sources
- Obtaining the cooperation of lenders
- Assessing mineral rights
*There will be costs associated with this process. You should evaluate your options before making a final decision on how to pay for them. We may be able to assist you with this. Please contact us if you wish to discuss it.
When it’s all said and done easements should be customized to fit each individual landowner’s personal needs. Finding the right land trust who will work with you to incorporate your concerns into the contract is as important as the synergy between you in working together to sustain the future growth of agriculture.
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