Since 1959, Sheriff’s Meadow Foundation has been a leader in land conservation on Martha’s Vineyard. The Foundation preserves, administers, and maintains natural habitats for wildlife on the island. Working closely with landowners, towns and other conservation organizations, we have protected almost 2,000 acres of land. A landowner benefits by making a gift of conservation land. A most satisfying benefit is the assurance that the land will be preserved as a living museum for future generations. There can also be substantial tax benefits.

The basic benefits that make a conservation gift attractive are outlined below. Please feel free to call on our staff for further information and details.

What are the available options for conserving my land?

There are a number of ways to protect your land including an outright donation of land, donation of a conservation restriction, donation of a remainder interest or gift by bequest.

What are the advantages of an outright donation of land?

Most importantly, the land you choose to donate will be protected permanently. Giving land is a fairly simple procedure which transfers not only the title of the land but also the management responsibility for the property. Income tax deductions and estate benefits may be available and avoidance of capital gains taxes that would result from the sale of the property is often a significant benefit for many landowners.

Conservation Restriction

What is a conservation restriction?

A conservation restriction is a legal agreement that permanently protects the natural features of a parcel of land by limiting the property’s uses. A landowner and a qualified conservation organization review the landowner’s needs and the conservation values of the land. Together the landowner and the organization draft a detailed legal agreement outlining the landowner’s rights and restrictions and the organizations’ responsibilities. The donor of a conservation restriction continues to own the land and use it in ways outlined by the terms of the conservation restriction.

What are the advantages of donating a conservation restriction?

A conservation restriction ensures the protection of your land both now and in the future since the restrictions are permanent. There may be income, estate and/or property tax savings for the landowners and their heirs.

How do conservation restrictions work?

Ownership of the land gives the owner numerous rights such as: the right to build on the land, to grown crops, to fence the land or to restrict access. When you donate a conservation restriction you may give up some of those rights. You may give up the right to build additional houses while retaining the right to restrict access. Except for the terms expressly spelled out in the conservation restriction, the landowner continues to use and maintain the land as he wishes.

Will a conservation restriction reduce a landowner’s privacy?

A conservation restriction is tailored to meet the specific needs of the landowner. If it seems appropriate, the donor may want to consider granting the use of a trail or footpath. However, public use in not required, and it is the landowner who decides the matter.

Remainder Interest

What is a remainder interest?

A landowner may with to donate property to ensure that it will be preserved in perpetuity but also want to continue to live on and/or use the property during his lifetime. By reserving for himself the right to continue to use the property the landowner has kept a “life estate.” The interest given to a charitable organization is called a “remainder interest.”

What are the advantages of donating a remainder interest?

The landowner can continue to enjoy the property and know that it will be protected in perpetuity. Such a gift may entitle the landowner to an income tax deduction (contributions are decreased by the value of the retained life estate as determined by the actuarial tables published by the Internal Revenue Service). The Sheriff’s Meadow Foundation can assist you in determining the amount.

Bequest

What is a bequest?

One of the simplest ways to make a gift to the Sheriff’s Meadow Foundation is through your Will. You can name the Foundation the direct beneficiary of specific assets, of a portion of your estate, or of your residual estate after payment of other taxes. Bequests to the Sheriff’s Meadow Foundation are entirely free from federal estate tax.

For more information:

To discuss a specific property or to receive more information, contact Lisbeth Jones, Director of Land Acquisition, Sheriff’s Meadow Foundation. 508-693-5207  jones@sheriffsmeadow.org