Trust for the Future

When I attend meetings on the subject of land development and the loss of agricultural ground, I hear many landowners put the burden of saving their farm or ranch on others. “If you do this…” or “This is your fault…” are common comments.
Yes, those statements may have a basis, but isn’t it time to look at ourselves and ask “What can I do to ensure that my property isn’t developed?”

Conservation easements, a tool used for protecting your land, are not a new concept. As an owner of land, you may have many rights associated with the land that include mineral and water rights. These rights can be conveyed to others and removed from your land.
The same goes for development rights. By placing a conservation easement on your property, you remove the right to build on your land.

Language can be built into the easement allowing for agricultural buildings, limited home sites for agriculture employees, etc. The right to develop other residential or commercial buildings is held by one of a number of organizations, typically a ‘Land Trust,’ a non-profit group charged with holding the development rights ‘in perpetuity.’ Under strict regulation from the IRS, the trusts make sure that your land remains as is forever.

What do you gain? Lower land values, which mean fewer taxes, less value to pass along to the next generation, and, in some cases, cash for a portion of the value you are giving up. Tax credits you cannot use can be sold for cash as well, improving your bottom line.
My family placed a portion of our ranch under a conservation easement ten years ago. I now sit on the board of directors for our local land trust, helping to ensure that other farmers and ranchers have this opportunity.

If you’re interested in exploring this option for your family, contact one of the many national or local land trusts for information. Or stop me at the upcoming convention to visit about it – I’d love to tell you more!