- To establish a contingency plan for conservation lands in the event the land trust ceases to exist or can no longer own or manage them.
Background
It is vital that every land trust consider what will happen to its assets if the organization ceases to exist, and plan accordingly. A land trust may evaluate other potential conservation owners in its area and discuss with them the potential to transfer its conservation lands if the land trust is ever unable to carry out its ownership responsibilities. In planning for a future transfer of conservation lands, the land trust should have a complete file for each property it holds (that contains deeds, maps, management plans and other documents important to the property) and stewardship funds available to transfer to a new conservation owner. Land trusts should also transfer any endowment funds that are specific to the property question to the new conservation owner. The transfer of any Ecological Gift properties must be authorized by Environment Canada or land trusts may face penalties under Section 207.31 of the Income Tax Act.