The Model Conservation Easement Donation Agreement helps land trusts avoid getting stuck with unreimbursed major expenses if a would-be easement donor walks away from a project. It outlines the steps to completing a project and the responsibilities of the land trust and donor. It also helps the parties avoid common misunderstandings.
The Model Conservation Transaction Addendum is designed for use with standard Pennsylvania Association of Realtors purchase and sale agreement forms. It addresses issues that commonly arise with conservation acquisition projects.
A purchase option assures the option holder of the right to purchase property at a certain price within a certain time period but without an obligation to do so. In granting an option, the landowner gives up the right to sell freely during the option period.
The holder of a right of first offer has the opportunity to purchase land at the landowners’ asking price before other prospective purchasers have an opportunity. An alternative configuration has the holder, rather than the landowners, making the first offer. If the right of first offer is coupled with a right of first negotiation, the holder has the further benefit of time for counterproposals and seeking mutually agreeable terms with the landowners before other bidders make competing offers. This model provides for both rights.
If an owner intends to accept an offer for the purchase of his or her land, the holder of a right of first refusal has the opportunity to purchase the land at the price and terms offered by the prospective buyer. If the holder of the right declines to purchase on those exact terms, the owner is then free to sell to the prospective buyer. If an owner is willing to commit to providing such a right to an organization, this model is a tool to document and ensure the enforceability of the commitment.