It is the land trust s perpetual responsibility to see that the terms of the easement are not violated. Conservation easements are very flexible. They are custom tailored for each situation. They do not require public access. These home sites can be sold to raise cash or given to heirs.
Conservation easements have multiple tax benefits.
If the easement meets the IRS requirements, an income tax deduction equal to the value of the land before the easement less the value of the land after the easement. An easement can also reduce property taxes. Finally, because an easement reduces the value of the land for estate tax purposes, an easement can allow a family to pass on land to children without having to sell a portion of the land to pay estate taxes. If a landowner does not wish to pass the land on to heirs and wants to make sure that the land is protected, a land donation may be the best way to preserve the land. A donation relieves the landowner of the responsibility to manage the land and it provides substantial income tax and estate tax benefits.