Property Ownership
In South Dakota, a 'community land trust' (CLT) is a model of homeownership where:
AThe government owns all land within a designated community
BA nonprofit organization retains ownership of the land while individuals own the homes/improvements on it, keeping housing permanently affordable✓ Correct
CTribal communities hold land in trust for all tribal members equally
DAll homeowners in a development co-own all land within the development
Explanation
A community land trust is a nonprofit entity that owns land and leases it to homeowners, who own only the home/structure. When selling, homeowners share equity appreciation with the CLT per a formula, keeping homes affordable for subsequent buyers.
Related South Dakota Property Ownership Questions
- In South Dakota, what does 'seisin' mean in a warranty deed?
- A South Dakota deed that contains the phrase 'to have and to hold' is known as the:
- A life estate in South Dakota grants the life tenant the right to:
- Which type of tenancy in South Dakota arises when a tenant holds over after their lease expires without the landlord's consent?
- A South Dakota property owner's 'bundle of rights' includes all of the following EXCEPT:
- Which type of deed provides the most protection for a buyer in South Dakota?
- South Dakota's homestead exemption protects a homeowner's primary residence from:
- An easement appurtenant in South Dakota benefits:
Practice More South Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Dakota Quiz →