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Fee Title Acquisition Vs. Conservation Easements? Choose Your Conservation Approach Wisely!
Land conservation can be achieved through two primary methods: fee title acquisition and conservation easements. Understanding the differences between these approaches is crucial for effective land protection. Both techniques have their role to play in preserving sensitive resources and achieving successful land conservation programs.
Fee Title Acquisition
• Fee title ownership grants complete control over the property, allowing the owner to exercise all rights associated with the land.
• Acquiring fee title ownership provides the freedom to develop, farm, or timber the land, subject to relevant regulations and limitations.
• Fee title acquisition is essential when the objective is to gain unrestricted access to the property or when owners wish to transfer the burden of property ownership entirely.
• A conservation easement involves the sale or donation of certain rights associated with the land to a non-profit organization or government entity, while retaining ownership.
• The landowner voluntarily restricts development, timbering, or other activities ...
... that conflict with the conservation values of the property.
• The rights transferred through a conservation easement are held by a new owner, ensuring that the property’s conservation values are protected.
• An appraisal determines the value of the rights transferred through the easement, which is typically the difference in property value before and after the easement is established.
Benefits and Considerations:
• Both fee title acquisition and conservation easements are used to protect valuable properties based on their significance.
• Conservation easements are often promoted as a cost-effective approach to preserve land, as they can achieve conservation goals at a lower cost compared to fee title acquisitions.
• Property under a conservation easement remains on the tax rolls, and landowners who donate or sell easements for less than their appraised value may benefit from significant tax savings on federal and state income taxes.
• Conservation easements may also lead to reduced property taxes due to decreased property value, which can be advantageous for landowners during property ownership and estate planning.
Maintenance and Responsibility:
• After a conservation easement purchase, the landowner remains responsible for property maintenance.
• Land trusts and other entities holding the conservation easement have the obligation to monitor the easements regularly, ensuring compliance with the conservation agreement.
Understanding the distinctions between fee title acquisition and conservation easements is crucial for effective land conservation. Both approaches have their merits, and the choice depends on the specific objectives and preferences of landowners. Conservation easements offer a cost-effective means of preserving land, while fee title acquisition provides unrestricted access and transfer of ownership responsibilities. By leveraging these methods appropriately, we can safeguard sensitive resources.
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