What is the legal basis for conservation easements in Colorado?
Colorado law (C.R.S. 38-30.5-101 et seq.) recognizes conservation easements as fully transferable interests in real property. To qualify as a property interest, a conservation easement must be granted to either a governmental entity or a 501(c)(3) charitable organization, such as a land trust, founded at least two years prior to the receipt of the easement. The law also stipulates that the land and easement must meet one of the four conservation purposes described in the answer to question number one above. To qualify for tax benefits under State or Federal law, the easement must comply with section 170(h) of the Internal Revenue Code.
