§390nn Trusts

Summary

Allows a person or company holding district land in trust to not be counted under the usual federal ownership and price limits, as long as the people who actually own the land (the beneficiaries) each have shares that meet those federal limits. In other words, the trustee’s ownership status does not break the rules if the beneficiaries’ interests follow the ownership and full-cost pricing caps. Counts land in a revocable trust as belonging to the grantor (the person who put the land in the trust) when either the grantor can cancel the trust and the land would return to them, or the trust ends after a set time and the land then goes back to the grantor.