Preservation easements
A preservation easement is a legal agreement that protects a property’s historical, cultural, or ecological value. It allows the property owner to keep their land while restricting certain types of development or changes that could harm its character. The easement is often held by a nonprofit organization or government entity, ensuring long-term conservation. In exchange for these restrictions, property owners may receive tax benefits or compensation. Essentially, preservation easements help maintain the integrity of important properties for future generations while allowing owners to retain some degree of control over their land.
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A preservation easement is a legal agreement that keeps a property from being developed or altered in ways that would harm its historical, scenic, or environmental value. The owner retains ownership but agrees to certain restrictions on how the property can be used, ensuring its preservation for future generations. These agreements are often used for historic buildings, natural landscapes, or culturally significant sites, often involving organizations dedicated to conservation. In return for these restrictions, property owners may receive tax benefits or financial support, helping to maintain the property's integrity while balancing private ownership and public interest.