What is a conservation easement?
A conservation easement is a permanent legal agreement that limits development on a property to protect natural, scenic, or historic values.
Conservation easements are voluntary agreements between a landowner and a qualified organization, usually a land trust or government agency. The landowner keeps ownership but gives up certain development rights forever.
These easements can provide significant tax benefits, including federal income tax deductions and estate tax reductions. The value of the deduction is generally based on the difference in value before and after the restriction.
Because conservation easements run with the land forever, they bind all future owners. Before buying a property with a conservation easement, review the exact restrictions and the easement holder's enforcement rights.
What to look for
- The conservation easement deed and any approved uses.
- The easement holder's monitoring and enforcement rights.
- Tax benefit documentation if the easement was donated.
- Any reserved rights such as limited building envelopes or agricultural use.
Related terms
General educational reference only. Prescription periods and their exceptions change, and several states set the period by case law rather than by statute. Read the linked official code and consult a licensed attorney in that state before relying on any of it.
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