What Is A Conservation Easement?

What Is A Conservation Easement?

Conservation easements convey a lawful interest in land where the landowner gifts or sells rights to a qualified entity like a land trust. The landowner retains full ownership with restrictions on activities they can do on the property. The landowner as well as land trust negotiate the restrictions and constraints that will be placed on the property. Conversation easements are voluntary negative easements, legally binding constraints on the usage of land for conservation, environmental, or historic purposes. They are granted in perpetuity and pertain to the land no matter who may own it in the future.

Landowners can sell or bequeath property that is covered with a conservation easement. Conservation easements can assist landowners in conserving their land, wildlife habitat, scenic areas or historic buildings. They are designed to satisfy the site-specific needs of the individual landowner and land trust. Conservation easements may also provide landowners with gift and property tax benefits.

Conservation easements might involve expenses for items including legal fees, survey and appraisal costs as well as other professional services. They are generally not a one-size-fits-all proposition. Landowners will have to completely understand the conservation easement and the benefits and limitations before signing. Numerous landowners didn’t have a full comprehension of what they were undertaking and therefore are now remorseful of having placed a conservation easement on their property.

Conservation easements are hard to draft and are costly to monitor and enforce over time. The land trust also must continue to keep track of the property to ensure that the landowner is not violating its terms. Landowners are notified when the land trust will be inspecting the property and the land trust has a legal right to enter the property. The land trust must also defend the conservation easement if legal action needs to be taken.

Conservation easements will become a more and more important conservation tool in the 21st century which will have significant benefits including better water and air quality as well preservation of natural resources. Landowners will hopefully educate themselves concerning the advantages and limitations of conservation easements to help make informed decisions. It is critical that landowners possess a full comprehension of what a conservation easement does and does not allowed them to do. Otherwise it is a recipe for conflict concerning the landowner and the land trust. If you’re searching for land for sale and locate a property that you might want that has a conservation easement, be sure to seek a professional who has an understanding of conservation easements so that you have a full comprehension of it before buying the property.

Learn more about Conservation Easements. Stop by Open Fences’ site where you can find out all about land for sale and the best property for you you.

Tags: , , , , , , , ,

Leave a Reply