Annandale for sale

[centurian]

conservation easements are only valid if both parties fulfill their responsibilities. We have no idea what that may be or the risk, reward, or benefit of such an agreement.

[Hogg]

conservation easements are only valid if both parties fulfill their responsibilities. We have no idea what that may be or the risk, reward, or benefit of such an agreement.

Well the easements are recorded in the Register of Deeds Office so anyone can print a copy and read what was agreed to between the parties.

[centurian]

Well the easements are recorded in the Register of Deeds Office so anyone can print a copy and read what was agreed to between the parties.

That would be interesting to see. Not a dog in the fight but just to see how that works.

[Hogg]

That would be interesting to see. Not a dog in the fight but just to see how that works.

The easements have to be recorded to put buyers and lenders on notice of the terms. Typically the easements detail enforcement rights and rights of access granted to the conservation organization, the number and types of structures allowed on the property, the amount of impervious surface areas allowed, allowed or disallowed commercial uses, whether you can mine sand and build lakes or ponds, whether the property can be subdivided in the future, all among many other things as each easement is different according to the negotiations between the landowner donor and the conservation organization donee. The value of the property without the easement and with the easement is established by appraisal so that the tax benefit can be ascertained. The competence and reliability of the appraiser is crucial to a good easement. The IRS hates them as it is their perception that the conservation easement scheme is a tax loophole for already wealthy individuals.

[union]

If I remember, and you could search it here, I think the Reeves estate listed Annandale for $16,000,000. Everyone said "have more money than sense" then, too...

Well to be fair, in the grand scheme, it produced a horrible ROI if this current owner purchased for $16m and 15 years later is selling for $24m. In the grand scheme it's why these are trophy properties. If you bought $16m in apple stock 15 years ago, you might have $500M today.

The property is worth any more than 15 years ago, the dollar is just worth less.
Its the literal definition of FU money. You have to be willing to throw it away.
I'm Jeaulous

[Hogg]

The folks that own these propeRties do not own them for return on investment. When I said earlier that it will take more than a buyer with $24 million what I was referring to was PEDIGREE.

[Palmetto Bug]

The easements have to be recorded to put buyers and lenders on notice of the terms. Typically the easements detail enforcement rights and rights of access granted to the conservation organization, the number and types of structures allowed on the property, the amount of impervious surface areas allowed, allowed or disallowed commercial uses, whether you can mine sand and build lakes or ponds, whether the property can be subdivided in the future, all among many other things as each easement is different according to the negotiations between the landowner donor and the conservation organization donee. The value of the property without the easement and with the easement is established by appraisal so that the tax benefit can be ascertained. The competence and reliability of the appraiser is crucial to a good easement. The IRS hates them as it is their perception that the conservation easement scheme is a tax loophole for already wealthy individuals.

I wonder the tax benefit could be used as a way to assert legal standing to enforce the title restrictions by someone other than the holder of the easement?

[Hogg]

I wonder the tax benefit could be used as a way to assert legal standing to enforce the title restrictions by someone other than the holder of the easement?

My short answer would be no. It has been about a quarter century since I had to think about taxpayer standing, but what I recall would be that it would be a stretch a thousand miles long for Joe Taxpayer to assert standing in such a case.

If the easement holder is a nonprofit corporation and you are a member, you may have standing to go to court to obtain an injunction to require the easement holder to enforce the easement.

[Kioti]

if I won the lottery, this would be my second phone call... if powerball is big, and if I bought a ticket.. my first phone call would be to Hart, getting him started on a mossy oak design thong so I could roam that place with lead

Don't forget about the skeeters. Would need some of them Coming to America gals following around to fan you with palm leaves.

[centurian]

Conservation easements tend to protect from future developement or exploitation of resources. A trust could also. A big problem with owning significant acreage or critical environmental property is when you pass or sell the new owner will develop or break up as they may not have the same idea of stewardship as you.

[bitesize]

The only instances I’m aware of an CE being challenged/overturned are cases of syndicated easements that were held by bogus entities.

There was a group going around and maximizing the entitlements then slapping easements on them with no intention of ever developing or in some cases not being able to develop said property. They were then selling the tax credits or “pre-selling” to investor groups. Pretty sure this didn’t end well for said parties as some of it is still tied up in court.

Pretty sure if you read the small print in DU’s agreements it stipulates no syndication.

[Hogg]

Conservation easements tend to protect from future developement or exploitation of resources. A trust could also. A big problem with owning significant acreage or critical environmental property is when you pass or sell the new owner will develop or break up as they may not have the same idea of stewardship as you.

That is pretty much the point of conservation easements. The donor preserves his idea of stewardship in perpetuity. What remains to be seen is what future greed may rationalize terminating a valid conservation easement.

[Hogg]

The only instances I’m aware of an CE being challenged/overturned are cases of syndicated easements that were held by bogus entities.

There was a group going around and maximizing the entitlements then slapping easements on them with no intention of ever developing or in some cases not being able to develop said property. They were then selling the tax credits or “pre-selling” to investor groups. Pretty sure this didn’t end well for said parties as some of it is still tied up in court.

Pretty sure if you read the small print in DU’s agreements it stipulates no syndication.

Easements can be unwound by IRS if it is established there was not true donative intent. By way of example, a seller cannot offer you a discount on a piece of property you are buying if you stipulate in the purchase agreement that you will place an easement on the property post-closing. Donative intent is lacking in such a scenario.

[bitesize]

Easements can be unwound by IRS if it is established there was not true donative intent. By way of example, a seller cannot offer you a discount on a piece of property you are buying if you stipulate in the purchase agreement that you will place an easement on the property post-closing. Donative intent is lacking in such a scenario.

Hence the ongoing legal battle-

[Remy]

I'm no legal expert but I have a hard time thinking anything really can last in perpetuity. You can't tell me someone won't develop some of those lands with easements 100 years from now.

[Highstrung]

Sometimes I type some random shit, then realize that too many people know me.

[MolliesMaster]

How much did we spend on the church parking lot in Charleston again?

And when I say we I mean, respectfully, our benevolent political leaders.

[wob]

I'm no legal expert but I have a hard time thinking anything really can last in perpetuity. You can't tell me someone won't develop some of those lands with easements 100 years from now.

Agree. Nothing lasts forever.

[2thDoc]

it does if you people didnt nitpick every damn thing.

define "forever?"
to me, its my lifetime and those of my kids.

i have an easement on my property and damn sure expect it to be upheld well after I am gone. Will it last "forever?" Of course not, but enough of "forever" to make me feel like I made the right choice.

I swear many of you make me look happy as hell

[union]

Well Let make a pool on guess who winds up buying it.
My first and only guess is
1)Ben Navarro