How it Works

The Dakota Land Trust (DLT) will acquire and hold land. Through partnerships, homes that are located on the land will be sold to qualified homebuyers. Exclusive use of the land is conveyed to individual homeowners by means of a 99-year lease that is assignable to the heirs of the leaseholder and renewable at the end of the first 99-year term.

In this way, the cost of land in the purchase price of the home is minimized or eliminated, making the housing more affordable while assuring long-term stability and security for the homeowner. DLT will place equity limitations into the ground lease agreement that restrict the resale price of the housing in order to maintain its long-term affordability. Thus allows a balance between the competing goals of providing a fair return on the initial owner's housng investment, while assuring that the home is kept affordable fo the next buyer.

At the same time, Dakota Land Trust homeowners are able to experience the true benefits and obligations of homeownership.