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The importance of a fully modern open space preservation vehicle – a conservation easement in Ohio – cannot be better summarized than by our 26th President. Theodore Roosevelt, one of the nation’s original land protectionists, embodied the power and beauty of a conservation easement in the following quote: “Here is your country.
This is where a good realtor will also provide essential disclosures such as any potential influences like power lines, train tracks or easements that might be in place. Not only do they help buyers and potential investors, they are also a major aspect of the appraisal. help the buyer in making an informed decision.
Evaluate Land Use Restrictions: Over time, legal restrictions on land use can change drastically. What You’ll Need to Know: When it comes to land use, pay attention to zoning ordinances, covenants, easements, and agricultural use restrictions, to name a few. Look up your land and get in the know. Form an entity for your farm.
The physical, legal, or economic descriptions of the property are in question. Consider the grantor’s position when considering a disbursement for a mixed-use development, conservation easement, or specialty use property. It isn’t clear who owns the appraised property. Too much time has elapsed between the CRE appraisal and the loan.
” “I have a life long time in agriculture and worked at a title company, giving me a good understanding of legal descriptions and easements.” Also, I have appraised multiple airports and done various easement studies for research.” ” “I do a lot of legal work for attorneys.”
In the first installment of this series, we looked at the advantages of raw land as an investment as well as the ways an investor might go about locating such parcels. In this posting, we will follow the acts of contract negotiation and legal settlement when undeveloped land changes ownership.
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