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The Basic Organization and Operation of Community Land Trusts
Since 1992, the defining features of what is often called the "classic" CLT in the United States have been enshrined in federal law (Section 213, Housing and Community Development Act of 1992). There is considerable variation among the hundreds of organizations that call themselves a community land trust, but ten key features are to be found in most of them.

Nonprofit, tax-exempt corporation
A community land trust is an independent, nonprofit corporation that is legally chartered in the state in which it is located. Most CLTs are started from scratch, but some are grafted onto existing nonprofit corporations such as community development corporations. Most CLTs target their activities and resources toward charitable activities like providing housing for low-income people and redeveloping blighted neighborhoods, making them eligible to receive 501(c)(3) designation from the IRS.