JMRPWG agenda 102898 - Laserfiche WebLink

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t it 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 s are the ai Y m nsta s 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 . Ownership is favored where the resources are highly sensitive, and the land trust cannot guarantee their protection through other conservation measures . However, ownership places greater long-term demands on the land trust . The trust may be liable for accidents or injuries on the property, must monitor the property for trespass and the condition= of the conservation resources, and may need to actively manage the land to insure the perpetuation of its conservation resources . tl As noted previously, 820 acres were protected by the Triangle Land Conservancy in the six- county Research Triangle region in 1995 . A total of 406 acres (49 . 5 %) were owned by the Conservancy, of which 141 acres (34 . 7%) were located in Orange County . 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 . Typical restrictions are prohibitions on some or all industrial and commercial activity, restrictions on the removal and disturbance of a property ' s vegetation and surface, and limitations on the number and siting of houses and other structures . The exact terms of the easement are negotiated between the land trust and the landowner, and depend on the nature of the property ' s conservation resources and the landowner ' s needs . 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 . The value of a donated conservation easement, as determined by a qualified appraiser, is generally the difference between the fair market value of the property before the grant of the easement and the value afterwards . For example, if the property without the easement restrictions is valued at $ 50070007 and with restrictions is valued at $25070001 the easement value is $ 250 , 000 , 4- 23