| Frequently
Asked Questions About Easements
What
is an easement?
Real
estate ownership consists of more than simply ownership of the property.
There is a “bundle of rights” that is also transferred with a piece
of real estate from owner to owner.
The
“bundle of rights” consists of the following;
The right of possession—the property is owned by whoever
holds title;
The right of control—within the laws, the owner controls
the use of the property;
The right of enjoyment—the owner can enjoy the use of the
property in any legal manner;
The right of disposition—the title holder can sell, rent
or transfer ownership or use of the property at will.
An
easement, in its simplest terms, is the right of one party to use
the property of another, technically, a diminishment of the “bundle
of rights.” Easements are recorded with the title and run with the
land, from one owner to the next.
Conservation
easements
What
is a conservation easement?
A
conservation easement is a voluntary legal agreement between a landowner
and a land trust, such as the Chestnut Hill Historical Society (CHHS)
or government agency that permanently limits uses of the land in
order to protect its conservation values. It allows you to continue
to own and use your land and to sell it or pass it on to heirs.
An easement may apply to just a portion of the property, and need
not require public access. The land trust is responsible for making
sure the easement's terms are followed on a long-term basis.
What
does it do?
A conservation easement permanently protects and preserves
a specific natural area and features of a property by restricting
the owner’s use of the property through a legally binding agreement.
The owner retains full title, use, and ownership of their property,
but agrees to specific restrictions placed upon it by the easement.
A conservation easement protects special features of the property,
limits alterations to the property, limits the removal of trees
and vegetation, and prevents environmentally harmful activity such
as commercial or industrial activity.
What
doesn’t it do?
It
does not necessarily prohibit subdivision of the property, unless
otherwise specified in the agreement, does not allow for any public
use of the property, does not change land ownership, and does not
change the rights of the owners to sell, rent, or otherwise control
their property.
What
are the benefits of such an easement
to the owner of the property? To the public?
A
conservation easement ensures that the property will retain its
natural character and will not be significantly altered. For the
owner, there can be significant financial benefit. If the donation
benefits the public by permanently protecting important conservation
resources and meets other federal tax code requirements it can qualify
as a tax-deductible charitable donation. The amount of the donation
is the difference between the land's value with the easement and
its value without the easement. The determination of the value is
made by a qualified appraiser. Placing an easement on your property
may also result in property tax savings. The owner of the property
also has the satisfaction of knowing that the land will be protected
for future generations’ use, and will not become developed or destroyed.
Through easements, the Wissahickon Valley’s important resources
and scenic qualities are preserved without the need for public funding.
How
long does an easement last?
Easements
run with the land and are permanent, meaning that the land is protected
for all future generations. Subsequent owners of the property are
bound by the easement.
Historic
Façade (or Preservation) easements
What
is a historic façade easement?
A
historic façade easement ensures the preservation of a historic
property by transferring certain rights pertaining to the property
to a nonprofit organization, such as the Chestnut Hill Historical
Society. CHHS currently holds preservation easements on 12 historic
properties in and around Chestnut Hill. The easement agreement is
recorded as part of the deed of the property and ensures that all
future owners will maintain the historic character of the building
by restricting certain alterations to it, and making sure it is
well kept.
What
does it do?
A
historic façade easement protects a historically significant building
by preventing certain specified changes to its exterior. This way,
the historic charm of the building is maintained.
What
doesn’t it do?
A
historic façade easement does not prohibit all subdivision of the
property unless specified, does not allow public access to the property,
and does not change the owners’ rights to sell or own the property.
What
are the benefits of such an easement
to the owner of the property? To the public?
By
placing a historic façade easement on a building, it is made sure
that the property will not be significantly changed and that its
historic feel and look will be preserved for generations to come.
Also, there can be significant financial benefit to the owner if
the building meets the standards to qualify it as a charitable donation.
See the information on the National
Trust's website.
How
long does an easement last?
An
easement made with CHHS is perpetual.
Does
the CHHS/FOW Easement Program
accept all easement donations?
The
Easement Manager and the CHHS/FOW Easement Committee carefully review
all potential easements. Easements must meet certain criteria such
as conservation value, public good, and location in the Wissahickon
watershed. Therefore some offers of donation could potentially be
declined.
Are
there soft costs associated with donating an easement?
Yes.
Associated costs vary according to the degree of complexity of the
proposed easement. Currently there is a Pennsylvania Land Trust
Association (PALTA) program that can potentially reimburse some
costs and fees up to $6000. Because this is a state legislative-funded
program, it is subject to change.
Please
contact CHHS at 215-247-0417, ext. 201 to more fully discuss your
potential easement. |
