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A conservation easement is a voluntary legal agreement between a landowner and a land trust or government agency that permanently limits uses of the land in order to protect its conservation values.
Cons:A conservation easement is typically perpetual.A future owner or your heirs may not have the same affinity for conservation as you do.The future value of the property will likely be diminished as a result of the restrictions of the easement.Not all land will qualify for a conservation easement.More items...?
Most conservation easement transactions are good. Important land is protected, and a fair deduction is taken. The principal reasons for bad conservation easement transactions are incorrect, inflated or fraudulent appraisals that create incorrect, inflated or fraudulent income tax deductions.
Conservation easements are valuable to investors when created through tax-deductible donations. You see, if you own land, you can donate a portion of it to be used as a conservation easement and it counts as a charitable deduction.
The bargain sale of a conservation easement is usually at least a two-year process.