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A Conservation Glossary A conservation easement is a type of land deed, a legal document officially entitled "Grant of Development Rights, Conservation Restrictions, and Right of First Refusal." A conservation easement specifically states how much, if any, future residential or commercial development can occur on a property. It also places restrictions on the future uses of a property’s natural resources (i.e. farmland, woodland, water, wetlands, and/or wildlife habitats) by describing what uses are permitted and what uses are prohibited. The term conservation restriction is frequently used instead of conservation easement to describe the legal document that conveys development rights. Development rights refer to the right to subdivide a property into smaller parcels and construct residential or commercial buildings. These rights are conveyed to the Land Trust when the conservation easement is signed by the landowner. refer to the right to subdivide a property into smaller parcels and construct residential or commercial buildings. These rights are conveyed to the Land Trust when the conservation easement is signed by the landowner. Conservation Methods Sometimes, conservation easements are donated by landowners who wish to protect their property permanently. Donating a conservation easement permits landowners to take advantage of the income tax deduction that is available for the value of the donated development rights. A purchase of development rights on working farms or forestland is usually made by VLT, with funding from the Vermont Housing and Conservation Board (VHCB), or by other private sources. A bargain-sale of a conservation easement occurs when the landowner sells a conservation easement to VLT at less than appraised value, thus donating part of the value to the Land Trust. This combines the income-producing aspects of a sale with the tax benefits of a donation.
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