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Conservation Choices

For those interested in protecting
their special piece of Muskoka, the process can often seem confusing
and overwhelming. This page will introduce you to a few of the terms
and tools of Land Trust agreements. Remember, one of the benefits
of entering into a partnership with a registered land trust is the
wide degree of flexibility in the options available to you.
Whether you would like to keep your land or
donate it, live on it or leave it just for nature, The Muskoka Heritage
Trust can help you to make smart conservation choices that will
reach far into the future. Essentially, if you own ecologically
valuable land that you wish to protect beyond your lifetime, we
can help you to do so.
Keeping Your Property
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For
landowners, a conservation easement is a way to protect the
special attributes of their property in perpetuity, while
retaining ownership.
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Even though you want to continue to own your
property, there are a number of conservation strategies you can
consider. These could include:
- Simply gaining more information,
advice or assistance on how to be a good steward of your land
(see Muskoka Heritage Foundation).
- Reconsider your property's land designation. Lands classified
for conservation, managed forest, farm or heritage may qualify
for a reduced property tax category.
- Consider entering into a Conservation Easement agreement
with The Muskoka Heritage Trust.
A Conservation Easement is a legal agreement
between a landowner and a conservation organization such as The
Muskoka Heritage Trust. Together, the landowner and the Trust agree
upon conditions surrounding the use and management of the property.
These conditions, which have as their primary goal to protect the
natural features of the property, remain in place even after the
property switches hands.
Transferring Your Property
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Your
land may be converted into a nature reserve in your name.
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You may wish to protect your land into the
future by transferring ownership of the property. You could:
- Donate your land to The Muskoka
Heritage Trust to be managed as a nature reserve.
- Sell or donate the land and then lease it (or a portion)
back for a certain period.
- Protect the land first with a conservation easement or
other restriction before a transfer or sale.
- Sell the land to the Trust at a discount, receiving a
tax receipt for the amount below market value.
- Establish a private trust that ensures the property is
used only for certain purposes.
If
there is no urgency to transfer the property, then consider the
following options that will ensure that your land is protected long
into the future:
- Consider a land
bequest. The property could be given in your will; the details
are best worked out in advance to ensure that your objectives
can be fully achieved.
- Grant a "right of
first refusal" to a conservation organization such as ours so
that we have the first chance to buy the property, if and when
you decide to sell.
- Reserve a "life
estate" when you give or sell the land, meaning that you or a
family member can continue to live on the property until your
death or theirs.
One interesting strategy is to donate a part
of the proceeds of a land sale back to the purchasing organization.
This provides the donor with a charitable tax receipt while also
decreasing the net purchasing cost. Land exchanges, partial development
to fund conservation, and other creative approaches might also be
explored.
Purchases depend on a conservation organization
raising the necessary funds, and this can take some time. Thus,
installment payments or a mortgage can help pay for a purchased
property over some months or years, or an "option" can
allow us to raise funds over a certain period to meet a set purchase
price.
A further opportunity to help us protect land
is for a landowner to donate property so that we can sell it to
provide funds to acquire a more ecologically significant site. Of
course, any gifts of money or useful goods are also most welcome.
These will help
fund our land conservation work and the ongoing costs associated
with maintaining properties.
Adapted from OLTA
Donor's Legal and Financial Counsel
In every case of a donation of real or personal
property, or of a conservation easement the Heritage Trust requires
donors, at their own expense, to seek independent legal and financial
counsel, and to provide written verification that such advice has
been obtained.
The Trust will make available to prospective
donors, or their duly appointed representatives, the charter and
bylaws of the Trust and the financial statements. Every donation
and every donor have unique circumstances and the Trust follows
a thorough and cautious process to ensure that all parties fully
understand and are satisfied with any agreements reached.
When dealing with assets in
perpetuity, patience is more than a virtue -- it is a necessity.
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