New users of the model conservation easement often ask why restrictions on Improvements are addressed separately from restrictions on activities and uses — isn’t that redundant? The answer (that a restriction on a type of building may not be interpreted as a restriction on use of the building and vice versa) was underscored by a recent Commonwealth Court decision [...]
A Tax Court decision (Schrimsher v Commissioner – March 28, 2011) disallowed a charitable deduction for a facade easement because the acknowledgment letter failed to explain that “TEN DOLLARS and other good and valuable consideration” had been received. The model Conservation Easement recites $1.00 consideration in 1.08 (just to be sure there is no question [...]
To obtain or maintain exemption from real estate taxes as a “purely public charity”, charitable organizations (including land trusts) need to publish written policies “outlining how they provide goods or services to all who seek them without regard to their ability pay for what they receive and how others who can pay some money.” According [...]
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