Preservation Agreement (Conservation Easement)

A preservation agreement is a legal agreement between a landowner and a land conservancy that permanently limits uses of the land in order to protect its conservation values.  It allows you to continue to own and use your land and sell it or pass it on to heirs.  A preservation agreement may result in an income tax deduction and reduced property and estate taxes.  

When you donate a preservation agreement to the Saginaw Basin Land Conservancy, you permanently give up some of the rights associated with the land. For example, you might give up the right to build additional residences while retaining the right to rebuild an existing home on the property. A preservation agreement can allow appropriate development on areas with limited conservation value and limit development in areas that most require protection -- preservation agreements are quite flexible provided that conservation values are adequately protected.

A preservation agreement that meets federal Internal Revenue Code requirements can qualify as a tax-deductible charitable contribution.  An agreement on the property may also result in property or estate tax deductions.

Click here to see a sample land preservation agreement (conservation easement).