Conserving Your Land
As a landowner, you may consider a variety of ways in which you can protect your land. Many conservation methods offer tax advantages, helping to reduce estate, income and property taxes.
There are three common conservation methods to help you ensure the permanent protection of the special features of your property:
Conservation Easements - a legal document recorded at the Registry that limits the type and scope of development on your property. With this method, you may keep your land held in family ownership. The conservation easement restrictions are upheld by a land conservation organization in perpetuity.
Donations - you may donate your land outright or donate a conservation easement. By making a donation of land or donating a conservation easement, you can make a generous gift while benefiting from income and estate tax deductions.
Selling Your Land - you may sell your land or sell the development rights to a land conservation organization.
Other conservation methods such as leases, deed restrictions, mutual covenants and management agreements could also be considered, but do not necessarily ensure permanent conservation of your land or provide substantial tax benefits.
KLT would like to thank the Maine Coast Heritage Trust (MCHT) for granting permission to use their informative text on this section of our website.