Land Preservation

Over the years, in connection with many clients’ estate plans, the firm became involved with land preservation as a means to reduce estate taxes, especially for those clients who may have been land rich and largely illiquid. The sale of the land or the sale of the development rights often serves as a means to reduce the value of one’s taxable estate and possibly provide a charitable deduction for income tax purposes.

We have had transactions which involved the sale and/or donation of development rights or land to the State, County, local municipalities and to non-profit organizations. Representation includes the negotiation of the contract of sale, negotiation of the language in the deed of easement (if development rights are being sold), preparation of all the requisite closing documents and attendance at the closing of title.