What happens to the homes if a land trust fails?

Each CLT utilizes a ground lease a which contains provisions designed to protect the homeowner and their lenders in the event that the CLT fails.  The model CLT lease allows the CLT to transfer the property only to another nonprofit which shares the goal of holding land to preserve affordable housing.   Should a CLT ever attempt to sell its land to any other potential owner, the model lease requires that the CLT first give the homeowner the option to buy the land.  Any transfer must leave all of the homeowner and lender rights under the lease undisturbed.
Some cities require that the City have the option to purchase any CLT land that the city has subsidized – a right that might be assigned to another housing nonprofit.