An Environmental Trade Case Study: Agricultural Conservation Easement Pays Off Environmental Penalty

Abstract

Agricultural conservation easements have been traditionally used to transfer or extinguish development rights on farm and ranch land in order to preserve open space and conservation and natural resources. These transfers are typically made with governmental agencies or Internal Revenue Service qualified land trusts. Usually this process is initiated because the property owner wants to ensure future agricultural use as well as conserve natural resources in exchange for financial benefits in either payments and/or tax credits.