Environmental Land Conservancy: Preserving and Protecting Ranch Properties
When land in a particular region is under increased residential or commercial development pressure, land owners can create conservation easements to ensure the lasting wild and scenic attributes of their property.
Conservation easements are used to protect:
The Conservation Easement
The easement is a document written into or attached to the title of a property restricting future development rights and uses of the property in manners specific to each easement. This easement is dedicated to a land trust organization that “watches over the land” to ensure no restrictions are violated. These restrictions run with the land in perpetuity and do not generally provide third party access.
The Benefit of Conservancy Land
When an easement is placed on a property, the owner still maintains possession, fee ownership, and use of the land. However, restricting the future development rights to the land reduces the potential value of the land. The difference between the free-market value of the land and the value after the easement is in place is called the DIMINUTION VALUE, which is considered a charitable donation by the IRS . This value can be used to offset federal income taxes over 15 years, and can effectively lower an owner’s basis in the property, lower annual real estate taxes and future estate taxes.
Live Water Properties, LLC will work with you to ensure your property is protected and that you take the proper steps to ensure maximum benefit. Please contact us to discuss your conservation options.