presentation by: robert m. burke owner licensed title agent & attorney
TRANSCRIPT
Section 10-705, Real Property Article, Maryland Code
• Effective October 1, 2007
• Conservation Easement
• Purchaser Right to Rescind
• Copy of All Conservation Easements
• Notice in Contract
• Purchaser Duty to Notify Environmental Agency
Conservation Easement Owners
• Maryland Environmental Trust
• Maryland Historical Trust
• Maryland Agricultural Land Preservation Foundation
• Maryland Department of Natural Resources
• A Land Trust (The Conservancy for Charles County)
Maryland Environmental Trust
• See Example• Purpose: to conserve open space and natural
scenic qualities• Perpetual• Prohibits non-agricultural uses• Prohibits construction• Prohibits subdivision & development• Injunction, Require Restoration• Notice Requirement if Sell• Income Tax Deduction
Maryland Historical Trust
• See Example
• Purpose: to preserve, protect and maintain historic, aesthetic & cultural character
• Perpetual
• Requires Consent for changes to improvements, new construction, grading
• Injunction, Require Restoration
• Notice Requirement if Sell
Maryland Agricultural Land Preservation Foundation
• See Example District Agreement & Easement• Purpose: protect and preserve agricultural and
forestry values• 5 Year Pre-Approval, then Perpetual• Prohibits Uses other then Agricultural• Prohibits new construction, subdivision• Injunction, Require Restoration• Notice Requirement if Sell• Sell Easement to Foundation for $• 30,000 acres under Agreement in Charles Cnty
Maryland Dept Natural Resources
• No Example
• Purpose: usually preserves forestry
• Few – Gladfelter in Nanjemoy
Land Trust
• Qualified under IRS 170 (h)(3)
• Cooperative Agreement with MD Environmental Trust
• The Conservancy for Charles County
• Very similar to MD Environmental Trust Easements, just locally administered
County Gov’t Owned Easements
• Rural Legacy Program
• Forest Conservation Easements
• Transferable Development Rights (TDRs)
• Are they Included in Statute?
Determining Existence
• Title Abstract• Call your friendly title company:
SOUTHERN MARYLAND TITLE• Not all title companies are as
knowledgeable• Not all title companies will do it for FREE• Save your Seller $120.00 to $200.00 • Must give copies of Conservation
Easements to Buyer
Buyer Right to Rescind
• If Seller fails to give Buyer copies within 20 days after contract ratification
• If Seller fails to put the Notice in the Contract
• Seller knowledge is irrelevant
• Only actual existence of Easement matters – recorded in Land Records