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CONSERVATION
EASEMENT
Sounds
interesting. Now what do I do?
Steps for Creating a Conservation Easement.
- Contact your
local land trust. They will be happy to discuss your situation, your
concerns, and your wishes in a confidential manner. They will
provide you with further information, and may recommend professionals
who have expertise in conservation easements.
- Decide why
you want to preserve your land. Is it because you love your property
in its current rural state? Are you concerned about preserving farmland,
or wildlife habitat or some other natural land use? Are you primarily
seeking tax benefits?
- Meet with members
of your land trust to view maps and walk the property.
- Discuss with
the land trust and your legal advisors possible restrictions you want
on your land. Think about all the uses you may want to retain for
your property. A draft easement will be prepared for you to read to
decide if changes are needed.
- Discuss how
the terms of your easement will be enforced in the future. Without
necessary funds, your wishes will not be fulfilled, and tax benefits
may be jeopardized. Most land trusts will want to establish a small
endowment for the stewardship of your property.
- Depending on
your circumstances, you may need an appraisal, title search, environmental
assessment and/or a survey of your property.
- If your property
is mortgaged, you will need the bank to sign a subordination agreement,
so the easement will remain in effect, even if the bank had to foreclose
one day.
- Sign the conservation
easement. Record at the registry of deeds.
- Throughout the
process, consult with your own legal, financial and other professionals
as you see fit. Although the land trust will provide you with a great
deal of information, they cannot give legal, financial or other planning
advise.
- Enjoy your property,
secure in knowing that it is protected in perpetuity!
For
more information, call the MEDINA COUNTY LAND CONSERVANCY
at
(330) 239-4480; or write to P.O. Box 141 Medina, Ohio 44258;
or
send us e-mail at jjholland@aol.com
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