LAND PROTECTION OPTIONS
LAND PROTECTION OPTIONS
DESCRIPTION
Donation of Conservation Easement
RESULTS
The landowner retains ownership but agrees to certain restrictions, such as the right to develop part of their land.( Owner at closing: Landowner)
POTENTIAL BENEFITS
Reduced Federal, estate, and property taxes
Sale of Conservation Easement
The landowner receives compensation for placing a conservation easement on their property while continuing to own and use the land under the terms of the easement.( Owner at closing: Landowner)
Reduced property taxes; cash payment
Bargain Sale of Land( Below Market Value)
The landowner may claim a charitable contribution for an amount equal to the difference between the fair market value and the sale price.( Owner at closing: Conservancy)
Reduced Federal, estate, and property taxes; cash payment
Fair Market Sale of Land( Fee Simple)
The landowner receives compensation at fair market value for their land.( Owner at closing: Conservancy)
Cash payment
Outright Donation of Land
The landowner deeds the title of their land to the Conservancy, thus eliminating future land and tax costs.( Owner at closing: Conservancy)
Reduced Federal, estate, and property taxes
Donation of Undivided Partial Interest in Land
Interest in land is donated over several years until the Conservancy has full ownership.( Owner at closing: Conservancy)
Reduced Federal, estate, and property taxes
Donation of Land by Will
The land is bequeathed to the Conservancy at the time of the landowner’ s death.( Owner at closing: Conservancy)
Reduced estate taxes
Donation of Remainder Interest in Land with Reserved Life Estate
The land is donated to the Conservancy, but the owner or designees continue to live there usually until death.( Owner at closing: Conservancy)
Reduced Federal, estate, and property taxes
A conservation easement is a voluntary agreement between a private landowner and a land trust that protects the property’ s conservation values. Easements can eliminate unwanted uses while allowing the landowner to retain desired uses, such as but not limited to farming, forestry, and, where appropriate, future homesites.