Agenda - 02-01-1988 - Laserfiche WebLink

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heirs.Lastly,the landowner could choose to name another charitable land- Ili, Options Involving holding organization which would nutontically assume title if the condi- tions for use were longer being fulfilled.m Detention Of Ownership Conditional transfers may enable the landowner to claim the value of the gift as a charitable deduction if the gift is given to a qualified recipient. By Internal Revenue Service regulations, a donor must transfer land to a government agency or a publicly-supported charity in order to claim the value of the gift as a deduction. Because the existence of restrictions may reduce the spptaised value of the gift,a landowner wishing to maximize the Most of North Carolina's natural areas and environmentally-sensitive income tax deduction may want to transfer the unrestricted land to a lands will remain in private ownership. It is not possible (or government qualified agency which would then impose the conditions and convey the agencies or conservation organizations to acquire and protect all the impor. land to the agency that is to own the land permanently. tant natural areas and environment at resources of our state. Not all land is There are certain Icg,il limitations ott the use of conditiotal transfers for for sale,much of it is too expensive to purchase,withdrawal of private lands permanent land protection.Courts,which term to disfavor Conditions,may is sometimes unpopular, and public agencies are increasingly unable or be reluctant to enforce the conditions through forfeiture of title if litigation reluctant to incur costs of purchase and management in acquiring more becomes necessary. Despite their possible limitations, conditional transfets land.Many private landowners wish to retain their properties. If the natural arc an appealing«ay of regulating future use because they are created with heritage and natural beauties of North Carolina are to be preserved, it will case,particularly if an intermediate agency is riot involved.At the same time be due primarily to active participation and initiatives by private property they provide strong guidance for the use of the property—loss of title is a owners—private landowners concerned enough to protect their natural severe penalty for breaking the regulations set on use. lands by voluntary actions. A variety of options are available for private Practical considerations become an Important aspect when analyzing owners to protect their natural lands while retaining ownership. the utility of this technique. Would the heirs take the initiative to reassert ownership if necessaryl' If the land reverted automatically to them, would they treat it wisely?If an intermediary or second agency should be involved, The Conservation Easement is there one which is willing to participate and which would net responsibly in the future? T lrese are considerations which must be judged against the A Conservation easement is a legal means by which a landowner can voluntarily set permanent limitations on the future use of the land,thus pro- ; facts of the particular situation. tecting the land's natural qualities.*Through an easement, the owner con- veys to a qualified public or private organization the right to prevent certain uses oft he land in the future or to use it for specific purposes.The attraction of the conservation easement lies in the fact that the land remains in private ownership.The owner may use,sell,lease,or convey the land subject to the explicit terms of the easement,because neither the title not right to posses- , sion of the land is given up by the agreement. The responsibilities and rewards of ownership continue, and unless specified otherwise, the land- owner retains full control over public access just as before granting the easement. The limitations on land development set forth in conservation j easements are tailored to suit the unique characteristics of individual proper- ties, as well as the different needs and interests of individual landowners. Generally, the limitations prescribed in an easement limit the type and loca- tion of development activity, and they specify what can be done to the sur- face of the land and its natural resources. The versatility of conservation easements allows them to range from the easements that assure that the land ✓�-+ will remain in undisturbed natural condition, to the easement that allows limited residential use, farming, and properly managed timber harvesting. *See Appendix B for the Historic and Conservation Agreement Act,N.C. General Statute 121-34 to 42. 19 18