Jewett City, Connecticut
19 Slater Ave
Griswold, CT 06351
(860) 376-0069

What Property Owners Should Know About Conservation Easements January 17, 2020

Jewett City, New London
What Property Owners Should Know About Conservation Easements, Jewett City, Connecticut

Conservation easements are powerful tools that allow landowners to preserve part of their land in perpetuity, preventing future development and conserving natural spaces. While there are substantial advantages to entering into a conservation easement agreement, they also involve releasing fundamental rights enjoyed by most real estate owners. Understanding the various factors at play will help you decide whether entering into one of these legally binding agreements is right for you.

A Guide to Conservation Easements

What Is a Conservation Easement?

A conservation easement is a voluntary agreement between a landowner and another party, typically a government agency or charitable organization. Once the agreement is in place, no one will be allowed to timber, farm, subdivide, or develop the property, not even the original property owner. In most cases, landowners choose to enter into conservation easements to preserve natural habitats or open space, although they can also be used to protect buildings of historical significance.

What Are the Benefits of Conservation Easements?

real estateBecause conservation easements restrict development by future property owners, many landowners use them to protect areas with special ecological or emotional significance. In some areas, local agencies offer direct payments for easements on certain types of real estate, making these arrangements especially attractive.

Along with the environmental benefits, some conservation easements may qualify for lucrative tax incentives, as long as certain conditions are met. For instance, the land must be set aside for a legitimate purpose, such as preserving natural habitat or providing recreational opportunities to the public. The agreement must also be legally binding, final, and irrevocable, so it’s important to have a real estate attorney review the easement documents before signing.


 

If you’re considering creating a conservation easement in Griswold, CT, turn to Stuart R. Norman Jr., an accomplished real estate attorney with over 40 years’ experience. Because this law firm focuses so closely on real estate, you’ll always receive advice informed by an in-depth understanding of the law from an attorney who has been through the process before. Visit their website for more on their real estate law services, or call (860) 376-0069 to make your first appointment today.

Other Announcements, Events and Deals from Stuart R. Norman Jr.
3 Benefits of Estate Planning, Jewett City, Connecticut
Estate planning is a crucial step in looking out for your loved ones and crafting your legacy. It allows a person to put their legal and financial affairs in order in the event of de...read more
5 Real Estate Contract Terms to Know, Jewett City, Connecticut
If you’re buying or selling a property, you’ll encounter a contract at some point in the transaction. Defining expectations from the buyer and seller, these legal documents can help ...read more
3 Reasons to Hire a Real Estate Lawyer, Jewett City, Connecticut
Buying or selling real estate is a complex financial transaction that comes with many variables. While an agent can be instrumental in locating properties and negotiating deals ...read more
A Brief Guide to Security Deposits, Jewett City, Connecticut
When you’re relocating to a new apartment, the expenses can be substantial. Therefore, you might be counting on the security deposit from your last lease being returned to you. But&n...read more