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Preservation Easements
A preservation easement is a voluntary legal agreement that protects a significant historic, archaeological, or cultural resource through subsequent ownership. When an owner donates a preservation easement to a charitable or governmental organization, that owner may be eligible to claim a charitable deduction on his or her federal income tax return. Additional financial benefits may be available in the form of reduced estate, gift, and local property taxes.
Under the terms of an easement, a property owner grants a portion of, or interest in, his or her property rights to an organization whose mission includes historic preservation (Click here to see a list of qualified organizations). Once recorded, an easement becomes part of the property's chain of title and usually "runs with the land" in perpetuity, binding not only the owner who grants the easement but all future owners as well. Any rehabilitation work that affects portions of the property included in the easement must be certified by the easement holding organization as in compliance with the Secretary of the Interior's Standards for Rehabilitation.
MacRostie Historic Advisors prepares National Register nominations for property owners who wish to have their buildings listed so that they can be participate in the preservation easement program. We also assist owners of properties protected by preservation easements to obtain the necessary certifications to complete rehabilitation work on their buildings, including reviewing proposed plans, preparing the necessary applications and filing the required paperwork, and serving as an advocate for the client throughout the review process.
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