There are a variety of ways a person can insure their property is protected is protected in the future. Each property protection mechanism has a variety of ways it could be implemented as well as strengths and weaknesses associated it. Mid-Michigan Land Conservancy can provide advice on the strengths and weakness of each mechanism and how it could be applied to any given property. Ultimately, however,  the property owner must decide what they are trying to achieve and the best way to reach their goals. Landowners should consult their own legal and financial advisers in addition to any information supplied by Mid-Michigan Land Conservancy. 

Conservation easements
When a person owns property they also own certain rights associated with the property. For example, they own the right to dig for minerals, allow access to others, the right to build on the land, the right to farm the land, the right to harvest timber, etc.. The owner may use an easement to give up certain rights to another person or entity. One example of an easement is giving property access to a utility company so they can check a meter or work on power lines. The owner still retains the property, and all the remaining rights to the property. 

In a conservation easement, the owner gives up rights that could affect the conservation value of a property. Conservation easements are designed to protect  the overall conservation values of a property while the property remains in private ownership. Typically rights such as the right to subdivide or the right develop are given to qualified organizations. Assuming the easement is given to a qualified 501(c)(3) organization, the IRS recognizes an easement may reduce the value of a property and considers the lost value s a charitable donation. 

A conservation easement is a legal document that is recorded with the county recorder. For the IRS to recognize the easement as a charitable gift, the easement must be given for perpetuity. While the easement donor may sell or give the property to another person, the easement stays with the land. All future owners must abide by the terms of the easement.

An easement can be a lengthy, complicated document. A baseline documentation report, recording the condition of the property at the time of the easement, must be completed and recorded with the easement. Implementing a conservation easement can easily take a year to complete. 

Fee simple donation
In a few simple donation, the property owner donates the property to a conservancy. A fee simple donation is one of the strongest forms of protection. A donation can take many forms. It can be an outright donation while the owner is still living. The donation could be done through a will at the death of the donor. Another donation option, called a remainder interest, allows the property to be donated immediately but the donor resides on or utilizes the property for their lifetime. 

Assuming the property is given to a qualified 501(c)(3) organization, the should qualify as a donation to a charitable organization. The donor must consult with their own advisors to determine the value of the donation. The conservancy may not take part in valuing the donation. 

Bargain sale
In a bargain sale, the property is sold to a conservancy for significantly less than the market value of the land. In some cases, the difference between the market value and the sale value can be considered a charitable donation. 

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