Preservation Easement Agreement

Preservation Easement Agreement

A Preservation Easement Agreement is a legal contract that restricts the use of a property to protect its historical, cultural, or ecological significance. This type of easement is typically established between a property owner and a preservation organization or government entity, enabling the property owner to retain ownership while ensuring that the property’s character and integrity are maintained over time.

The primary purpose of a Preservation Easement Agreement is to safeguard the unique features of the property that contribute to its value or significance. These features may include architectural elements, landscaping, or natural habitats. By placing restrictions on future development, alteration, or demolition, the easement helps preserve the property for future generations.

For example, a historic home may be subject to a Preservation Easement Agreement that prohibits any exterior modifications without prior approval from the preservation organization. Similarly, a parcel of land with endangered species habitats could be protected under such an agreement, preventing activities that would harm the ecosystem.

A Preservation Easement Agreement can also provide tax benefits to the property owner, as the donation of an easement may qualify for charitable deductions. Additionally, such agreements are usually recorded with the local government, ensuring that the easement remains in effect even if the property changes hands.