A landowner may agree to one or more funding arrangements that require the landowner or successive owners of an eased property to make one or more payments to the easement holder to support stewardship of the property. These arrangements may be customized to fit the stewardship demands created by the particular conservation easement and the financial circumstances of the owner.
A conservation referendum enables citizens of a local municipality to vote to establish a dedicated tax for open space protection. It also enables citizens to approve borrowing beyond normal debt limits by counties or local municipalities for conservation projects.
A gift of cash, land or other property to a conservation organization that is included in a will can achieve a donor's estate planning objectives as well as benefit a worthy charity.
An installment agreement for the purchase and sale of real estate can provide affordable financing of the purchase price for a buyer while providing tax planning opportunities to the seller.
A landowner may agree to one or more funding arrangements that require the landowner or successor owners of an eased property to make one or more payments to the easement holder to support stewardship of the property. An understanding of what makes promises binding is critical for crafting arrangements that are enforceable over time.
COMPLETION TARGETTED FOR 2017
Before investing time and money in a prospective project, a conservation organization may seek to minimize the potential for misunderstandings with the prospective donor for the project and make the donor’s promise to support the project a legally binding obligation.
When a seller wants to close a sale of real estate but the buyer is not yet in a position to fully fund the purchase, the parties can close the sale with the seller taking from the buyer a purchase money note and mortgage in lieu of an all-cash payment.