South Carolina Conservation Easement
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How to fill out Conservation Easement?
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FAQ
Under common law, the owner of a property that gets its access by way of the easement has a duty to maintain the easement, but need only maintain the easement to the degree that the owner deems necessary for access to their own property.
Tax Benefits: This easement value is accepted by the IRS as a non-cash charitable donation and can be used as a tax deduction for up to 15 years. South Carolina also offers state tax credits, which typically amount to a maximum of $250 per acre, with no expiration.
The income tax credit is equal to twenty-five percent of the amount of a charitable deduction resulting from the donation of a conservation easement. The twenty-five percent credit is subject to several caps. First, the credit may not exceed $250 per acre.
Form 8283, Noncash Charitable Contributions, which must be filed by individual taxpayers who claim itemized deductions for donations of easements.
You can still own, build upon, sell, lease, mortgage, farm, or otherwise use your property consistent with the terms of the conservation easement. Does a conservation easement require me to allow public access to my land? No.
To establish a prescriptive easement, there must be continued and uninterrupted use or enjoyment of the right for a period of twenty years, identity of the thing enjoyed must be proven, and use must be adverse or under claim of right.
North Carolina Income Tax Credits The landowner may apply for a state conservation tax credit on lands put under easement. A landowner may receive a tax credit up to 25 percent of the value of the donated interest in the land (up to a maximum credit of $25,000 for individuals and $500,000 for corporations).