The Real Estate Encyclopedia
TX Land For Sale-Consider A Conservation Easement To Protect Your Land And Get Tax Benefits
Category - Real Estate Information Sources - Real Estate Articles

If you are looking at TX land for sale check to see if it has a conservation easement, it can be a good thing for your land if you look at it for the right reasons.

 One of the most significant factors affecting our Texas land is the continued disappearance of family owned farms and ranches. Family owned farms, ranches and recreational lands are affected by changing economics and the increased ax burden on property owners. Passing on the family farm or ranch is a time honored tradition in Texas. However estate taxes which can be as high as 55% of an estates total value, may force heirs to sell part or maybe even all of the family property.

 One of the most flexible and effective means of conserving and protecting private property is a conservation easement. A conservation easement is a legal agreement that ensures a property will be managed in perpetuity according to the landowner’s desire. It may also qualify the TX land owner for valuable tax benefits. Conservation easements can assist the Texas landowner in protecting their land, wildlife habitat, scenic areas or historic buildings. Every conservation easement must be individually drawn up specific to each individual TX land and the needs of the landowner. A conservation easement can be tailored to meet a landowner’s specific needs, whether he or she owns ten acres or 5,000 acres.

What is a conservation easement? A conservation easement is a restriction a landowner places voluntarily on a specified use of his or her property to protect natural, production or cultural features. A conservation easement is recorded as a written legal agreement between the TX landowner and the “holder” of the easement, which may be either a nonprofit conservation organization or government agency. In Texas, conservation easements are usually donated to nonprofit conservation organizations known as land trusts.

 Conservation easements are recognized for legal and tax purposes by the state of Texas (The Uniform Conservation Easement Act) and the Internal Revenue Service (Internal Revenue Code, Section 170(h)). If you own Texas land and you are thinking about a conservation easement you will want to consult with your tax advisor as well as your family attorney.

 With a conservation easement the land owner retains legal title to the TX land while determining the types of land uses to be continued and those to be restricted. As part of the arrangement, the land owner will allow the holder of the easement asses to the property for occasional inspection to be sure the easement is being maintained according to the legal terms of the agreement.

 A conservation easement is one of the most owner-friendly conservation management tools available to a Texas land owner wanting to preserve and promote his or her own personal ethics to their land. Obviously the two main reasons to grant a conservation easement perpetual protection of the land you love and with the governments increasing tax burden on heir property and estate lands a conservation easement is a great way to accomplish both of these concerns.

 One last word of advice, if you are looking at TX land for sale with a conservation easement you need to check all the legal benefits and concerns before you buy.



References


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