One step of Six Steps to a Happy Conservation Easement

After the conservation easement deed prepared by the Land Trust, the appraisal report is the most important document… Basic Info gathering by you

• Name of land trust
• Conservation Easement or Fee Simple Transfer
• Sale, donation, or some of both (Bargain Sale)
• Location of land
• Approximate acreag...

One step of Six Steps to a Happy Conservation Easement

The Internal Revenue Code requires a "qualified appraisal" prepared by a "qualified appraiser". to support a tax deduction for a conservation easement. Important stuff if you want a tax deduction… Appraisals of land, especially land with subdivision potential, are substantially different from typical residential property appraisals. Appraisals of conservat...

One step of Six Steps to a Happy Conservation Easement

You must have an IRS-qualified donee to accept the conservation easement. Most likely it’s your local land trust…According to Section 170(h) of the Internal Revenue Code, a “qualified organization” is either:

• A governmental entity; or
• A 501(c)(3) organization that, pursuant to the Treasury Regulations, has:
  • a commitmen...

One step of Six Steps to a Happy Conservation Easement

With a conservation easement you are giving up something of value, i.e. your development rights, and you deserve something in return. The tax benefits can be huge. If you are considering a conservation easement donation, now may be the time to act. The December 2010 tax deal brokered between President Obama and Congress extends through th...

One step of Six Steps to a Happy Conservation Easement

You have lots of options as to which rights you choose to keep and which rights you choose to donate with a conservation easement. You can donate a conservation easement or donate the land “fee simple”

• A “fee simple” conveyance means you give up all rights to the property. This is the way you sold your old house; you gave up all of your r...

One step of Six Steps to a Happy Conservation Easement

To qualify for a tax deduction, a conservation easement must be for one or more conservation purposes. Internal Revenue Code Section 170(h) defines when the conveyance of less than all of a person’s interest in real property (e.g., a conservation easement) may still qualify as a charitable donation for tax purposes. A conservation easement is a perpetual r...

Going through the donation of a conservation easement on your land can be an arduous process. The intent here is to give you an overview of the process from start to finish so you’ll know what to expect. 1. Purpose – There must be conservation related purpose to the conservation easement, like preserving a wildlife habitat, preserving open space, or public recreation. 2. Options – As the donor of a conservation easem...