If you’re ready to leave your land, consider selling or donating it to a land trust. The land trust may in turn donate it to a government agency to be turned into parkland or a watershed. Or it might resell the property under a conservation agreement that restricts how the new owners may use it.
A land sale or donation is a good option if you: - Don’t have heirs, or your heirs don’t want to live on or conserve the property - Don’t have any use for all or a part of your land - Can’t manage or care for the property - Want to reduce your tax burden
Depending on the deal, benefits may include: - Income tax deductions - A reduction in future estate taxes
The options for a land donation or sale are as varied as the people who make them. Each agreement is tailored to suit the landowner and land trust involved.
For example, a single property may be donated or sold in pieces over time to increase the tax deduction. Another landowner might be ready to donate the property but not ready to leave; he can set up a “life estate” that allows him to stay on the land until his death.
Your local land trust can give you detailed information about the options available to help you save the places you love!
