Whether buying property that already has a conservation easement (CE) or placing a CE on land after you purchase it, it is important to have the right information before making any decisions. CEs are permanent deed restrictions that limit some, or sometimes all development on a piece of property. They can save land buyers money by limiting property value, but they also come with unique restrictions on building, farming, hunting, grazing, and other activities.
The first step is to find a local land trust that can help you determine the best way to conserve your property. This will require brainstorming your wishes for the land and thinking through all of the ways that it can be used in perpetuity. Once you have a clear picture of what you want to do with the land, it is time to work with your land trust to create a conservation easement agreement. This is a legally complex document that requires extreme care by experienced professionals in order to be responsible and fair to all parties. Also read https://www.webuyhousesokcmetro.com/
After the agreement is complete, the land trust will record it in your deed and will begin its stewardship program. A trained member of staff will visit your property each year to ensure that the terms of the agreement are being upheld. The land trust will monitor the easement and may ask you to make changes in order to meet its goals for the property.
There are many reasons that land owners choose to conserve their property with a CE. For some, it is a matter of preserving their family’s heritage and legacy. For others, it is a matter of protecting the natural beauty and ecological values that their property holds. Finally, some use CEs as a means to lower property taxes and for estate planning purposes.
A common misconception is that a CE restricts development and therefore makes the property unsellable. However, this is not the case. A CE merely reduces the land’s appraised value, which may be eligible for federal and often state tax benefits.
It is also important to note that a CE does not change ownership of the property or prevent future generations from using the land as they see fit. The property can still be inherited by the next generation and, in fact, many families choose to preserve land for generations to come.
If you have questions about a CE, it is always a good idea to talk with your land trust and a professional certified real estate appraiser. They can provide you with the right information to help you understand your options and decide what is best for your family’s needs and dreams. Ariel Steele is a ranch broker in Colorado who works with farmers and ranchers to get money for conservation by utilizing transferable income tax credits. Her company, Tax Credit Connection, Inc., is the leader in the state of Colorado in providing this service. Her clients appreciate her expertise in conservation and helping them save money on their investments.