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In Part 1 of this post we discussed the idea of land conservation and how the various parties involved use the concept to maximize preservation and value. Today in part 2 of the post we will look at the basic tools that are used in Land Conservation efforts.
The basic conservation tools are:
Personal action – efforts on the part of individual land owners to conserve their land because it benefits quality of life for themselves and the public. Historically, farming and ranching has maintained open land as an inherent part of the land use. Today, some individuals are acquiring and operating farms and ranches specifically for conservation purposes. Ted Turner is perhaps the best known, and is the largest private landowner in the United States. His working ranches are economically viable businesses that simultaneously support conservation goals, including water resource management, reforestation and reintroduction of native species.
Land acquisition – fee simple purchase of the land by government, land trusts, other conservation organizations or voluntary donation by the property owner. An acquisition example is the Richardson’s Bay Sanctuary, located on the edge of San Francisco Bay in California. The Audubon Society purchased submerged and upland areas to provide habitat for wildlife and migratory water birds.
Conservation easements – these are legally binding agreements that limit uses and development of a property and protecting the ecological values of the property for public benefit. This is accomplished through either through voluntary sale by the property owner or grant. Conservation easements are the most commonly used conservation tool. Anyone interested in participating in a conservation easement should carefully review the conservation easement information found through state and local government resources, including a detailed review of the policies and procedures.
Financial incentives – other benefits provided by government to the property owner to conserve the land, such as special tax districts for open lands, tax rate reductions or deductions, or allowances to transfer the development potential to another location. Financial incentives typically work in combination with other tools such as conservation easements. Financial incentives such as reduction of inheritance taxes may be essential for land owners to maintain an existing use, such as farming or ranching and pass the land on to descendants.
Risks Associated With Land Conservation
All parties involved in land conservation assume some risks, such as:
Management of these and other risks indicates that all parties should exercise caution, and consult with appropriate professionals. The services of attorneys, accountants, appraisers, REALTORS® and land planners may be needed, as well as coordination with government agencies and conservation organizations. The unique attributes and complexity of land conversation issues highlights the need for experienced professionals.
Make sure that any professional you are working with is well educated in both the process and the law before engaging them in any conservation easement action.
Real Estate Professionals and Land Planners may want to learn more about dealing with Land Conservation issues through the VanEd Continuing Education course Land Conservation.