Within the bounds of state law and private standards of practice, nonprofit organizations have considerable flexibility in establishing policies and procedures regarding the authorization of real estate transactions.
At closing, the transfer of the real estate interest, whether land or easement, is completed. This guide helps users organize and expedite the closing.
To responsibly accomplish a conservation easement or land acquisition, due diligence is necessary. This guide describes the costs incurred by land trusts and agricultural land preservation boards in completing surveys, baseline documentation, appraisals, title search and insurance, phase 1 environmental assessments and legal services in support of conservation acquisitions.
When a real estate transaction document needs to be reviewed, edited, or approved by more than one person, good document management and control practices help prevent time-consuming missteps and confusion for all the parties involved.
When a mortgage predates an easement on a property, the easement could be extinguished in a foreclosure if the owners default on their mortgage payments. And if the easement is to be donated and the donors wish to obtain tax benefits, additional complications arise. These problems can be avoided by obtaining an agreement from the mortgage holder appropriate to the circumstances.