Agenda - 02-01-1988 - Laserfiche WebLink

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sign an agreement containing mutually benelidal protective covenants con- Leases trolling the future of their land. The agreement would be recorded in the Another option available to the landowner is that of granting a long- county records and would he binding upon subsequent owners just as an term lease to a land management agency. Leases are rental agreements. An easement would, and the types of restrictions imposed would be much the agency pays rent to the landowner and takes temporary possession of the same.These covenants would then he enforceable by any of the landowners property in order to control its use. The lease would allow for unrestricted who entered into the mutual agreement or by any future owners of the land. and exclusive use of the land by that agency for the given number of years, These covenants differ from conservation easements in three respects. and it would be Filed with the county register of deeds. Even if rental First, the nature of the enforcer is quite different. It would he a person or a payments are not received for the use of the land,there may he or her finan- group of people rather than a conservation agency or organization.Though cial incentives which accompany the leasing of land. Although it is not the presence of any restrictions of which others are aware is likely to restrain possible to take a charitable deduction for the value of a lease which is forbidden acts by the owners,enforcement would ultimately depend on the donated, any impact of the lease on the value of the land would he taken determination and resources of an individual. Normally enforcement of the into account when estate taxes are calculated. terms of the covenants by the neighboring landowner is not legally man- Certain use restrictions can also be incorporated within the lease. Fur- datory; rather, it is optional. (her,provisions could be contained that if the lessee(conservation agency or The second difference is that mutual covenants may not be as lasting as organization)does not use the property as directed,that the lease would he the restrictions contained in an casement. By their legal nature they would automatically terminated, and all of the lessee's interest in the property be subject to the doctrine of changed conditions; a court would be able to would thereafter he forfeited. refuse to enforce the covenants if it felt that it is no longer possible to The lease provides an alternative for those who may not wish to transfer achieve the benefits sought when the covenants were imposed. their land to a conservation agency or organization but who want to see it Lastly, there are the financial considerations. These covenants muld used or protected by such a group for a period of years, receive a similar treatment as do easements when the property taxes and estate taxes are calculated. The local assessor may consider them, and the Management Agreements appraiser may take them into account when determining the value of an Management agreements are legal contracts between landowners and estate at time of death. 'File imposition of these covenants, however,does conservation organizations,obligating the landowner to manage the property not enable landowners to claim the loss in market value as a charitable in a specific way for a specified period of time to achieve purposes mutually ac• deduction on their income tax returns. cepted. These agreements are well suited for private landowners who have While not as strong as conservation easements, mutually restrictive traditionally and consciously managed their property for natural values. covenants provide an alternative for those instances when easements may Most frequently, management agreements are voluntarily granted by land• not he feasible or desirable. They do, however, require the presence of the owners. The agreement is tailored to suit both parties, The agreement can right combination of people and circumstances. last as long as both parties desire.The agreement may he recorded with the county register of deeds and may produce tax incentives similar to those gained by leases. Management agreements have been a commonly accepted means to pro- tect natural areas in Great Britain,and in recent years have been used inure qq frequently by conservation organizations in this country. Registration The N.C. Department of Natural Resources and Community Develop- `t( ment has established the North Carolina Registry of Natural I leri(age Areas to recognize and honor landowners who promise to protect important natural areas. The Natural heritage Program arranges these voluntary agreements with private owners of natural areas and with public land management agencies. The registry has proven to he an effective and popular means to encourage protection of natural areas. Sites have been Nr registered by many individuals,timber companies, utility companies,other corporations,colleges and universities,hunting and sports clubs,churches, Scouts and civic groups, various conservation organizations, and federal, G state, and local government agencies. 23 22