If the LT-12 IPL that I am looking at is the correct one it would be the MTD variable speed belt system with a single speed transaxle. This system uses a sliding sheave pulley to variable drive and driven pulleys diameter.IE: The center divider slides up and down). As the belt tension from PTO is increase it cause pulley diameter for that belt to decrease thus increasing the driven diameter (Sliding sheave to transaxle). This change results in an increase in the speed that belt moves that drives the transaxle input pulley. As tension is released the reverse happens; slowing the transaxle.
This should be the mid point pulley as shown in gallery view.
Personally this is a much more liable system than the hydro static especially went towing a small loaded trailer as there is no hydro slippage. The belt sizes are critical though on this system and not just any close enough sizes will work properly. Otherwords if the spec is .7 x 44.2" you can't simply throw in a 43" or 44" and expect it to properly. Now in a standard 5/8" the size would be 43.94". When in doubt about the size use OEM belts.
Last edited by Bruce; 01/02/1809:47 AM. Reason: Image was not secure