We would be delighted to talk with you about options for conserving your land. Contact us to start the conversation.
Donation of Land
A donation of land for conservation purposes is truly one of the finest legacies a person can leave to future generations. In today’s growing world, land is being developed extremely fast here in Southern Indiana.
Donating your land to Oak Heritage Conservancy can ensure open green space for future generations to enjoy.
A donation of land can release you from the responsibility of managing your land and can also provide substantial income tax deductions and estate tax benefits (while avoiding any capital gains taxes that would have resulted from selling the property). Additionally, you can also donate land in a will, thereby decreasing the tax burdens on your heirs and ensuring permanent protection for many generations to come.
A conservation easement is a legal agreement between a landowner and a land trust. This unique agreement allows you and your family to continue to own and use the land and to sell it or pass it on to heirs.
When you donate a conservation easement to OHC, you give up some of the rights associated with the land. For example, you might give up the right to build additional structures, while retaining the right to farm or pasture the land. But the great thing about a conservation easement is this: it can be individually tailored to whatever you would like (as long as it has a conservation value). Also, future owners will be bound by the easement’s terms. Therefore, OHC will be responsible for educating the new landowner about the agreement and enforcing its terms for many years to come.
Another key advantage of a conservation easement is the tax benefits. Usually, as long as federal tax code requirements have been met, it can qualify as a tax-deductible charitable donation. Plus, in many instances it will result in property tax savings.
Conservation easements offer great flexibility and perhaps most important, a conservation easement can be essential for passing land on to the next generation. By removing the land’s development potential, the easement lowers its market value, which in turn lowers estate taxes. Whether the easement is donated during your life or by will, it can make a critical difference in the heirs’ ability to keep the land intact. Visit the Land Trust Alliance to learn more about conserving your land or contact us today to start a conversation about conservation.