Partnerships can be an important tool in achieving conservation goals. Entering into a partnership transaction with municipalities, public-private organizations or with a fellow land trust can prove to be beneficial in protecting land. But remember that it is crucial that your organization, if accredited or plans on going through the accreditation process, makes sure it has the documentation to shows it is following Land Trust Standards and Practices and the accreditation requirements in the Requirements Manual.
When working with partners, your organization still needs to complete its own due diligence to safeguard the assets it will hold. Your organization can use the partner's documentation as part of that due diligence, but it is essential that your organization obtain, review, and retain copies of it. For example, if your partner completes the title investigation and title update, your organization still needs to evaluate that title documentation on your own behalf before closing. Similarly, if you share monitoring responsibilities with a partner, you can retain documentation that your partner completed the monitoring – just work with you partner to make sure the monitoring reports include the contents required for accreditation. Ultimately, proper recordkeeping is key to protecting land in perpetuity.
A 2014 Saving Land article outlines the requirements concerning working with partners. CLICK HERE to learn more. (Note the practice references in the article tie back to the 2004 Standards and may be in a slightly different place in the 2017 Standards.)
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