Property Ownership
In an Indiana community land trust (CLT), the CLT retains ownership of the land and leases it to the homeowner through a:
AFee simple deed
BLong-term ground lease (typically 99 years), with the homeowner owning only the improvements✓ Correct
CMonth-to-month rental agreement
DLife estate for the homeowner
Explanation
Community land trusts separate land ownership from housing ownership — the CLT owns the land and leases it long-term (often 99 years) to homeowners who own only the improvements, keeping homes permanently affordable.
Related Indiana Property Ownership Questions
- Indiana's Unclaimed Property Act is relevant to real estate when:
- Accretion is the gradual addition of land through:
- In Indiana, tenancy by the entirety is available to:
- Indiana's homestead exemption primarily benefits property owners by:
- Indiana's 'doctrine of waste' in a life estate means the life tenant:
- A lis pendens recorded against an Indiana property provides notice that:
- In a condominium ownership arrangement, the common areas are owned:
- An Indiana property owner who grants an easement for a utility right-of-way across their property is giving the utility company a(n):
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