TerraBites

A short newsletter of bite-size ideas to chew on for Terrafirma owner-member land trusts, released January, February, May, June, September, October and November.

 

Posts from September 2015

Back to School Savings for Land Trusts

School supplies can be expensive — but the Legal Defense Reserves Calculator is free! Get a better forecast of the adequate legal defense reserve you need with the Land Trust Alliance’s new calculator. The calculator enables you to calculate reserves tailored to your specific situation. The Alliance worked with independent actuaries to develop the calculator using actuarial analysis and data collected from hundreds of land trusts across the nation, building upon previous studies of basic thresholds for defense funding. The tailored results can help you survive significant legal challenges or a series of challenges.

Access the calculator in The Learning Center or ?subject=Defense%20Reserves%20Calculator%20request">contact us by email to receive the calculator as an Excel file.

 

Whose Bill Is It Anyway?

It is a common misconception that the losing side of a lawsuit pays the legal costs for both sides. In fact, the general rule in the U.S. is that each party pays its own fees. But carefully worded conservation easements can prevent land trusts from incurring excessive legal costs when defending lasting conservation.

When drafting an easement, one can include a clause saying that in case of a lawsuit, the landowner pays for all legal fees, including all experts, attorneys and costs. Since the land trust is responsible forever for upholding the public interest in the land and is a charity, this is an equitable arrangement. Be sure to talk to your attorney and read this practical pointer for more details.
 

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