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About:
Land Trusts |
Property Evaluation |
Sample
Easement Terms
Step-by-Step Guide to:
Conservation Easements |
Gifts of Land |
Bargain Sale |
Trade Land
STEP-BY-STEP GUIDE TO
GIFTS OF LAND FOR CONSERVATION
If you are interested in donating
land to be conserved by Kachemak Heritage Land Trust,
these are the steps that Kachemak Heritage Land Trust
will take:
1. Discuss
Landowner's Objectives: Kachemak Heritage Land Trust
staff will meet with you to discuss your objectives for
the property and review your options for donating the
property. Because Kachemak Heritage Land Trust will be
assuming the responsibility for protecting this land in
perpetuity, we will discuss with you making a financial
contribution to our Stewardship Fund that pays for
managing our properties. You should then review this
information with your personal tax and legal advisors.
2. Evaluate
Property: Kachemak Heritage Land Trust staff will
visit your property to evaluate its ecological,
recreational, cultural, or scenic values, check for
hazardous materials, and make a preliminary
determination as to whether your property meets Kachemak
Heritage Land Trust's criteria for acquisition for
conservation purposes.
3. Request
Kachemak Heritage Land Trust Board Approval:
Kachemak Heritage Land Trust staff will present the
property evaluation and the letter of intent to the
Kachemak Heritage Land Trust Board of Directors at the
next regularly scheduled board meeting. Board approval
is required to proceed.
4. Prepare
Letter of Intent: Kachemak Heritage Land Trust will
prepare a letter of intent, to be signed by all parties,
setting forth the general terms of the donation.
5. Review
Title: Kachemak Heritage Land Trust requires proof
of clear title. All taxes should be paid through the
current year. Usually, the land donor purchases title
insurance.
6. Prepare
Conveyance Document: Kachemak Heritage Land Trust
staff and our attorney prepare the deed.
7. Obtain
an Appraisal: If you or your advisor determines that
the donation will qualify as a charitable donation, you
must select and hire a qualified appraiser to establish
the market value of the property at the time of the
gift.
8. Sign
Deed: After a final review of the documents, you
will sign the deed. Kachemak Heritage Land Trust will
record the deed at the appropriate recorder's office.
9.
Submit Form 8283 to the IRS:
You must attach IRS Form 8283 and required documentation
(for "Noncash Charitable Contributions") to the income
tax return that you submit for the year in which the
land donation was made if you seek IRS recognition of
your charitable contribution.
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