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A conservation easement is a legal agreement between a landowner and a land trust that permanently protects open space by limiting the amount and type of development that can take place, but continues to leave the land in private ownership. A conservation easement can also be negotiated between a landowner and a government agency. When a landowner donates or sells a conservation easement to a land trust, he can continue to live on or work the land - in accordance with the easement's provisions - and can sell the land or pass it on to heirs. Donating the easement can result in reduced income and estate taxes. (Williamsburg Land Conservancy) |