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PRESENTATION BY:

PRESENTATION BY:. ROBERT M. BURKE Owner Licensed Title Agent & Attorney. Conservation Easements. New Law Requiring Notice and Copies: Real Estate Agent Duties. Section 10-705, Real Property Article, Maryland Code. Effective October 1, 2007 Conservation Easement

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PRESENTATION BY:

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  1. PRESENTATION BY: ROBERT M. BURKE Owner Licensed Title Agent & Attorney

  2. Conservation Easements New Law Requiring Notice and Copies: Real Estate Agent Duties

  3. Section 10-705, Real Property Article, Maryland Code • Effective October 1, 2007 • Conservation Easement • Purchaser Right to Rescind • Copy of All Conservation Easements • Notice in Contract • Purchaser Duty to Notify Environmental Agency

  4. Conservation Easement Owners • Maryland Environmental Trust • Maryland Historical Trust • Maryland Agricultural Land Preservation Foundation • Maryland Department of Natural Resources • A Land Trust (The Conservancy for Charles County)

  5. Maryland Environmental Trust • See Example • Purpose: to conserve open space and natural scenic qualities • Perpetual • Prohibits non-agricultural uses • Prohibits construction • Prohibits subdivision & development • Injunction, Require Restoration • Notice Requirement if Sell • Income Tax Deduction

  6. Maryland Historical Trust • See Example • Purpose: to preserve, protect and maintain historic, aesthetic & cultural character • Perpetual • Requires Consent for changes to improvements, new construction, grading • Injunction, Require Restoration • Notice Requirement if Sell

  7. Maryland Agricultural Land Preservation Foundation • See Example District Agreement & Easement • Purpose: protect and preserve agricultural and forestry values • 5 Year Pre-Approval, then Perpetual • Prohibits Uses other then Agricultural • Prohibits new construction, subdivision • Injunction, Require Restoration • Notice Requirement if Sell • Sell Easement to Foundation for $ • 30,000 acres under Agreement in Charles Cnty

  8. Maryland Dept Natural Resources • No Example • Purpose: usually preserves forestry • Few – Gladfelter in Nanjemoy

  9. Land Trust • Qualified under IRS 170 (h)(3) • Cooperative Agreement with MD Environmental Trust • The Conservancy for Charles County • Very similar to MD Environmental Trust Easements, just locally administered

  10. County Gov’t Owned Easements • Rural Legacy Program • Forest Conservation Easements • Transferable Development Rights (TDRs) • Are they Included in Statute?

  11. Determining Existence • Title Abstract • Call your friendly title company: SOUTHERN MARYLAND TITLE • Not all title companies are as knowledgeable • Not all title companies will do it for FREE • Save your Seller $120.00 to $200.00 • Must give copies of Conservation Easements to Buyer

  12. Buyer Right to Rescind • If Seller fails to give Buyer copies within 20 days after contract ratification • If Seller fails to put the Notice in the Contract • Seller knowledge is irrelevant • Only actual existence of Easement matters – recorded in Land Records

  13. Real Estate Agent Liability • Duty to protect and advise Seller • CYA Notice for Seller to Sign (prepared by Al Monshower) • Liability if sale is rescinded – loss of profit • Be knowledgeable • Shift liability to Southern Maryland Title

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