What is a conservation easement?

Q: What is a conservation easement?

A: This question seems basic for anyone that has owned any expanse land for some time. New landowners might not know the difference between a conservation easement and that of an easement that involves something like a utility line or driveway.

The basic definition says a conservation easement is a “recorded restriction on what you and any future landowner can do with you land.”

This is a legally binding document usually carried out between a landowner and a land trust that forever preserves land from development. It does not transfer ownership of land but moreover removes or “extinguishes” development rights to that land. It is perpetual and carries over to a new owner when title is transferred.

For the easement to be valid it must restrict use of the land, be given to an eligible donee, and conserve the value and benefit of the land.

A conservation easement can make the donor eligible for tax benefits, but the tax breaks vary by state and by donation.

——————————————-

For more information on Conservation Easements, pick up a copy of Preserving Family Lands by Stephen J.  Small at Amazon.com.

More Field Reports From The Land Report:

1. Historic Dahlstrom Ranch Conservation Easement Finalized
   A conservation easement of historic proportions was purchased in the heart of the Texas Hill Country only a short drive from the Capitol of Texas. Hays County, the City...