JMRPWG agenda 102898 - Laserfiche WebLink

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Land Protection Methods Land is protected by a land trust through one or a combination of two basic methods : fee simple ownership or a conservation easement . Other methods may also be used, including temporary protection measures , but these two methods are the mainstays of most trusts . Fee Simple Ownership . Fee simple ownership means that a person owns all the rights to a piece of land. Complete ownership provides the most certain ability to protect the conservation resources on the property, determining who will be allowed on the property and under what circumstances, how the resources will be managed, and what the future of the property will be . Conservation Easements . A conservation easement is a legal agreement between a property owner and a nonprofit organization or government agency in which the owner agrees to restrict future uses of the property . In granting a conservation easement, the landowner retains some rights and gives up others . Conservation easements may be donated or sold like any other interest in land . Those that are donated in perpetuity and meet Internal Revenue Service criteria qualify the donor for a federal income tax deduction. A conservation easement may also qualify the landowner for a ' state income tax deduction and reduce property taxes and estate taxes . Temporary Agreements . Temporary or nonbinding agreements are used when permanent protection does not suit the land trust ' s or landowner ' s needs and wishes . In such instances, the trust believes that the property ' s conservation value is not great enough to put its resources into permanent protection measures, or the landowner is only willing to enter into a temporary or nonbinding agreement. Methods That Buy Time . Options and rights of first refusal preserve a land trust ' s opportunity to purchase land in the future if immediate acquisition is impossible or unnecessary . An option is the exclusive right to purchase a property under certain terms and conditions - and at a specified price - by a certain date . A right of first refusal is an agreement between a landowner and the land trust that gives the trust the right to match any bona fide purchase offer made on the �. property and acceptable to the landowner within a specified time period after the offer is made . Acquisition Methods The method of acquisition determines how much the land trust pays to acquire the property rights and when those rights accrue to the land trust . Amount of Payment . Purchasing land or interests in land at fair market value is the most expensive acquisition method . For this reason, land trusts will usually try to negotiate a donation or purchase at less than fair market value first . Landowners may donate almost any property right r or interest in their land, including the entire parcel in fee, a conservation easement, or the other property rights such as an option or lease . �; 11