Conservation Easements: 2026 Updates on Legal, Appraisal, Accounting, and Ethical Issues

Learning Objectives:

Upon completion of this program, participants will be able to:

• Recognize what do Land Trusts do?
• Discuss importance of land conservation
• List tax incentives for protecting land
• Assess conservation purposes
• State types of land in conservation easements
• Address primary Terms and Conditions of typical conservation easement properties
• Describe Rights of Grantee
• Name Restrictions and Reserved Rights
• Demonstrate Notice
• Discuss Deed Requirements
• Discuss Amendments
• Explain Enforcement
• Prepare Exhibits
• Name pros and cons of Conservation Easement Process
• Identify costs
• Formulate baseline Documentation Report
• Demonstrate Reasons to Donate Easements
• Define What is a Qualified Contribution
• Explain Conservation Purposes
• State Caselaw
• Express Perpetuity
• Describe Charitable Donations
• List Deductions
• Identify 170(f)(8) Caselaw
• Distinguish Qualified Appraisals
• Discuss Appraisal Caselaw
• Explain Importance of Recording and Process
• Discuss Excepted Entities and Form 8283
• Define key terminology and concepts related to conservation easement appraisals, including appraisal, appraiser, appraisal report, conservation easement, and the applicable IRS standard of value.
• Identify the required elements of a real estate appraisal prepared for conservation easement purposes, including intended use, effective date, property characteristics, assumptions, and valuation requirements.
• Analyze highest and best use considerations for conservation easement appraisals, including the evaluation of legally permissible, physically possible, financially feasible, and maximally productive uses before and after the easement.
• Differentiate between applicable valuation methodologies, including the sales, income, cost, and development approaches, and evaluate their appropriate application in conservation easement assignments.
• Apply the before-and-after valuation methodology used to measure the impact of conservation easements on property value.
• Recognize IRS requirements for substantiating donated gift value, including qualified appraisal standards, qualified appraiser criteria, and certification requirements.
• Examine conservation easement appraisal issues involving the entire contiguous parcel rule, enhancement considerations, timbered land, development approaches, subsurface rights, and syndicated transactions.
• Evaluate common appraisal deficiencies and “red flags” identified by IRS experts, including unsupported assumptions, inadequate analysis, and poorly supported conclusions.
• Describe characteristics of a well-supported conservation easement appraisal, including logical organization, credible highest and best use analysis, and conclusions supported by relevant data and analysis.