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Land Conservation Easements

“It’s All Greek to Me”: Escrow

By Land Conservation Easements, Real Estate

A distant cousin of the crow? Not exactly. “Escrow” is a term that can be found in many different contexts, but it typically refers to agreements where an impartial third party retains control of assets throughout the duration of a transaction.

            For instance, in real estate, the money one puts down to purchase a house is placed “in escrow” until the final contract is signed by both buyer and seller. While the money is in escrow, neither the buyer nor the seller has access to it – rather, the impartial third party holds on to the funds until the transaction is completed or cancelled.

If you need guidance through the real estate process, attorneys Fred Jacobs and Sean Byrne of Bach, Jacobs & Byrne, P.A. are real estate attorneys and escrow/title agents who can help you with a closing on the purchase or sale of real estate. Call today at (941) 906-1231 to set up a consultation.

June 25, 2019
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Tallahassee Judge Rules Florida Misused Conservation Funds

By Firm News, Land Conservation Easements

In 2014, the Florida Water and Land Conservation Initiative (Amendment 1) was passed overwhelmingly with 74.96% of the vote. Upon passage by the voters, the Florida Constitution now regulates that 33% of net revenue from the existing excise tax on documents to be dedicated to the Land Acquisition Trust Fund. This Trust Fund was developed to acquire and improve conservation easements, wildlife management areas, wetlands, forests, and more.

However, a Tallahassee circuit judge has recently ruled that the state of Florida has not been properly appropriating the funds to the Trust, issuing a summary judgment in favor of the Trust. This summary judgment gives the Trust a victory in the case without needing to go to trial.

Attorney Sean Byrne of Bach, Jacobs & Byrne, P.A. is a real property attorney with extensive experience in land conservation law, including the creation and sale of conservation easements. If you are seeking counsel regarding a land conservation easement, call (941) 906-1231 to set up a consultation.

August 17, 2018
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Where do I find the Florida land conservation tax exemption form?

By Land Conservation Easements

If you are a Florida landowner who has a conservation easement on your property, the form to apply for a property tax exemption for the land protected by the easement is located at: http://dor.myflorida.com/dor/property/forms/current/dr418c.pdf.

The form must be completed by the property owner and returned to the applicable county property appraiser by March 1. Check with your county property appraiser to see if you are required to reapply each year.

January 24, 2017
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What is a conservation easement?

By Land Conservation Easements

A conservation easement is a legal agreement that protects land by limiting the potential uses of the land. Easements allow landowners to maintain many of their private property rights and oftentimes the easements provide them with tax benefits.

Conservation easements are typically donated, but some landowners sell conservation easements.

While landowners may retain their rights to live and use the land, they are usually restricted in regards to subdividing and developing it. In the legal agreement, the public or private organization holds the landowners to their promise of not developing it. While some easements prohibit any development, other easements may allow farming, ranching, and other forms of economic activity.

Conservation easements can also grant landowners tax benefits such as lowered federal income tax and state property taxes.

Attorney Sean Byrne of Bach & Jacobs has represented parties in multimillion dollar conservation land transactions and can advise you of your options regarding conservation easement land restrictions. Contact our office at (941) 906-1231 to schedule an appointment with him.

January 20, 2017
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Attorney Sean M. Byrne to Present on Conservation Law at Paralegal Association of Florida

By Firm News, Land Conservation Easements

Attorney Sean M. Byrne will be the guest speaker at the meeting of the Suncoast Chapter of the Paralegal Association of Florida, Inc. on the topic of land conservation law in Florida. The meeting will be held on April 14.  Byrne will present an overview of the federal and state laws governing conservation easements and identify the various financial incentives available to landowners who choose to conserve their land.  The presentation will also showcase some of the local success stories of conservation land transactions, including donations and purchases of conservation easements through Sarasota County’s Environmentally Sensitive Lands Protection Program.  Byrne represented Sarasota County in the acquisition of conservation easements across privately owned working ranches in east Sarasota County.   The presentation will give real estate lawyers options to provide landowner clients who are considering conservation as a part of their estate planning.

April 14, 2014
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Federal Income Tax Incentives Conservation Easements Changing in 2014

By Elder Law, Estate Planning, Land Conservation Easements, Tax Law

Question:     Are the federal income tax incentives for donating conservation easements going to change in 2014?

Answer:    The “enhanced conservation easement incentive,” which applied to conservation easements donated in 2013, raised the maximum deduction a donor can take for donating a conservation easement from 30% of their adjusted gross income (AGI) in any year to 50%.  It also allowed qualified farmers and ranchers to deduct up to 100% of their AGI, and increased the number of years over which a donor can take deductions from 6 years to 16 years.  Policy makers at the federal level had given conservation easement donors this tax benefit to encourage them to conserve land.   Because Congress did not renew the enhanced conservation easement incentive prior to the end of the year, it expired on Dec. 31, 2013.  Unless Congress acts, the tax deduction for a donation of a qualified conservation contribution will be the same rates as other charitable gifts. Attorney Sean Byrne of Bach & Jacobs has represented parties in multimillion dollar conservation land transactions and can advise you of your options regarding conservation easement donations.

January 7, 2014
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Tax Incentives for Conserving Land

By Estate Planning, Land Conservation Easements, Tax Law

Question:     Can I reduce my taxes if I do not develop my land?

Answer:    Policy makers at the federal and state level have enacted tax incentives to encourage landowners to conserve environmentally sensitive land.  Property owners who have undeveloped, natural land and record a ‘conservation easement’ deed to restrict development and degradation of their real estate may qualify for federal income tax deductions or local property tax exemptions or both.  The conservation restrictions will have to be enforced in perpetuity by a land conservation non-profit or governmental entity.  Attorney Sean Byrne of Bach & Jacobs has represented parties in multimillion dollar conservation land transactions.

October 9, 2013
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Attorney Sean M. Byrne to Speak About Trail Easements at National Conference

By Firm News, Land Conservation Easements

Attorney Sean M. Byrne will present a seminar at the annual national conference of the Land Trust Alliance (LTA) about the use of public trail easements to encourage support for land conservation.   The LTA conference will be held in New Orleans next week from Sept 17-19.  Byrne will showcase Sarasota County’s ‘river to river trail’—an interconnected network of outdoor recreational trailways stretching from the Peace River to the Myakka River that Sarasota County will be developing.  Byrne represented Sarasota County in the acquisition of portions of the trail network, some of which are easements across privately owned working ranches.   The seminar will give recommendations to real estate lawyers and land conservationists on how to incorporate trail easements in conservation easement transaction, particularly when public funds are used to acquire the conservation easements.

September 9, 2013
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