Within the bounds of state law and private standards of practice, a nonprofit organization has considerable flexibility in establishing policies and procedures regarding the authorization of real estate transactions.
At closing, the transfer of the real estate interest, whether land or easement, is completed. This guide helps users organize and expedite the closing.
To responsibly accomplish a conservation easement or land acquisition, due diligence is necessary. This guide describes the costs incurred by land trusts and agricultural land preservation boards in completing surveys, baseline documentation, appraisals, title search and insurance, phase 1 environmental assessments and legal services in support of conservation acquisitions.
When a document needs to be reviewed, edited and approved by more than one person, good document management and control practices help prevent time-consuming missteps and confusion for all the parties involved. Good document management and control practices can reduce the time and resources necessary to prepare documents, prevent comments and edits from being lost in the shuffle and assure that all project participants are aware of changes to documents previously reviewed. Although the context of this guide is the preparation of documents needed for completing real estate transactions, the suggestions made below may be helpful in the preparation of a variety of documents.
Many conservation-related property transactions are excluded from having to pay state and local realty transfer taxes in Pennsylvania.