Fast Facts About Conservation Easements
What is a Conservation Easement?
In a conservation easement, the property owner retains ownership of the land but legally commits to forgoing future development. The specific requirements and prohibitions of each easement are unique, determined by the features of the property and the purpose(s) it is intended to meet. Easements must be granted in perpetuity (or forever), and the organization that holds the easement is not only empowered – but required – to enforce its terms.
The value of the donation represented by a conservation easement is assessed based upon the loss of potential value that might have been gained if the property had been developed and is determined by a qualified Appraiser.
Facts About Conservation Easements
- Removes future development and subdivision of property
- May allow for reservation of a future home site and/or agricultural structures
- May limit activities adjacent to or within sensitive natural areas
- Conservation easements are flexible – not “one size fits all”
- Allow landowner to continue to own and typically permit current land use(s)
- Does not grant public access
- Conservation easements “run with the land” – they apply to both current and future landowners
- May still use land as collateral for loan; lease, sell or pass property to heirs
- Conservation organization or public agency (Grantee) that holds the conservation easement has right to monitor the property and enforce the easement
Conservation values or purposes – defined in Section 170(h) of the IRS code as:
- Wildlife habitat (plants and animals)
- Farm and forest land (open space)
- Land for public outdoor recreation or education
- Historic land or buildings Scenic viewshed
Steps to Preserve My Land
1. Landowner makes the decision that he/ she wants the development rights taken out of the property for “forever”, no matter who the future landowner may be.
2. Landowner decides on using a non-profit private land trust to hold their easement, which encumbers the land with agreed upon restrictions and allowances, with whom they will engage in conservation partnership with for “forever.”
3. Landowner calls HVLC to set up a time to discuss the prospective property for protection, and then an initial brief visit may be scheduled.
4. After the visit, if interested, the landowner completes, signs application found on website, and sends in with application fee.
5. The landowner can then begin to put together their conservation team consisting of a conservation attorney, conservation appraiser, creator of the baseline documentation report, and the private land trust.
6. The two-resolution Board of Directors approval process begins.
7. The project is vetted, and a final decision will be made by both the landowner and the Board, and if agree, then a closing can be scheduled for a Deed of Conservation Easement by the landowner’s attorney.
8. Landowner enjoys both the federal deduction and any state granted land preservation tax credits to either use or sell on the open market through a credit broker for cash.
IT’S YOUR VIEW.
TOGETHER, LET’S HELP PROTECT IT.