give land in lieu of bond

Puerto Rico
You have land that is tax defunct and not paying taxes to your government.
You can give such land to bond holders to sell to others or give the tax value of land versus the price of debt that is left + time of no tax payments on the land if you have a high value bond versus the land you buy with the bond.

For example:

Person A has land that they are not paying taxes on and have not paid taxes. The land is in process of foreclosure by Puerto Rico Government in lieu of taxes. (Only Puerto Rico will take  ownership of the land via foreclosure.) Taxes owed by Person A is $5K.

Bondholder A has a $100K bond.

The value of the land is $80K.

Puerto Rico takes the land and and gives Bondholder A the land in lieu of bond. No further Bond payments can be made by Puerto Rico, except of any deficient difference.

The land is only 80K in tax value and the Bondholder is left with a current tax burden of the land. In such case Puerto Rico gives the new land owner a $20K easement of future tax burden to the land; in that case the land has a $20K balance of tax credits that is part of the land (that is part of Puerto Rico.) As Puerto Rico bills the land and the bondholder of land taxes due the bondholder and user part or all of the tax credits to pay for the land that Puerto Rico still has a liability for overage claim by the original owner of the land, Person A. The overage is payable within the next three years by Puerto Rico.

 If the bondholder wants to sell the the land he can with the easement following the land less any tax payments that were made until the easement has a zero balance.