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The Land Trust Alliance (“LTA”) has launched a one-of-a kind liability insurance company called Terrafirma Risk Retention Group LLC to defend over 20,000 properties conserved by small community land trusts in Washington, D.C., and 46 states from lawsuits. The only four states with no Terrafirma land trusts are Arkansas, Minnesota, North Dakota, and Oklahoma. 

“The IRS has stated that a land trust could lose its tax status or ability to accept further donations if it does not have sufficient resources to monitor or defend conservation easements,” said Frederic C. Rich, a partner of Sullivan & Cromwell LLP, an international law firm based in New York that provided nearly $1 million of pro bono services to create a solid legal foundation for Terrafirma. “With insurance from Terrafirma, land trusts can now assure their communities, donors, the IRS, other regulators, and legislators that they have the financial capacity to defend their conserved lands in perpetuity.”

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