Why would a landowner want to place a preservation agreement on his or her land?
Most landowners are interested in preservation agreements because they wish to protect their family’s land from future development or fragmentation. In addition to the permanent protection that a preservation agreement provides, there are potential financial and tax benefits for the landowner. Because the conservation values protected by a preservation agreement are considered a benefit to the public, the Internal Revenue Code recognizes the donation of a preservation agreement as a charitable contribution that may qualify for income and estate tax deductions.
Related Questions
- In addition to restrictions, does a landowner have any affirmative obligations associated with land under a preservation agreement?
- What effect does a preservation agreement have on a landowner’s ability to sell or pass the land to his or her heirs?
- Why would a landowner want to place a preservation agreement on his or her land?
