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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.
Applying each of these tests properly is essential to the valuation process. In this test, youll examine zoning and building codes, variances, deed restrictions, building covenants, and easements to assess a range of legal uses for the subject property. Order doesnt matter for the first two tests, but its essential for the last two.
Consider the grantor’s position when considering a disbursement for a mixed-use development, conservation easement, or specialty use property. A real estate appraisal review is an excellent tool for a recently conducted commercial appraisal, to check if market comps and other property valuations remain the same.
Online valuation tools can provide a starting point, but they may not account for recent upgrades or unique features of your property. Consider hiring a professional appraiser for a more accurate valuation. For homes built before 1978, federal law requires sellers to provide a Lead-Based Paint Disclosure.
Appraisers should familiarize themselves with their state laws regarding water frontage and related rights, as they can vary from state to state. The canal was owned by the state with an unclear easement for building beyond the rear lot line. By John Dingeman, Chief Appraiser Class Valuation. To read more, click here.
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