Stewardship and land acquisition projects

Stewardship projects

Lease project

• Can be a short-term, long-term, lease-to-own, lease-for-life, or leaseback agreement.
• May be used if the landowner is unwilling to sell, if the purchase price is too high, or as an interim measure while funds are raised to buy the property.

Management agreements

• Come in a wide variety, from informal to more formal and legally binding license agreements.
• May involve a conservation agency or organization (for example, CVC, TRCA or a land trust) providing technical and financial help while the landowner agrees to follow certain restrictions for the use of the land.
• Can be in the form of fishery, wetland, and forestry agreements.

Land acquisition projects

Easement or donation

Private dedication

• Involves a private landowner dedicating land in perpetuity to a conservation agency or organization for conservation purposes.
• Could result in tax benefits.

Restrictive covenant

• Places restrictions on the use of the property.
• Can be donated or purchased.
• May offer a possibility for tax benefits for the landowner if they donate the land.

Conservation easement

• The landowner retains ownership of the property and allows restrictions to be imposed against the lands.
• Is registered against the property to be binding on all subsequent owners to establish long-term protection.
• Can be purchased or donated.
• May result in tax credits to the landowner.

Testamentary (will)

• A bequest of land to a conservation agency or organization written up in a legal will.
• May result in favourable tax treatment to the testator or the estate (or both).

Donation

• Gift of land to a conservation agency or organization.
• May receive tax benefits for the market value of "ecologically sensitive land" (Managed Forest Tax Incentive Program, Ecological Gifts Program, and Conservation Land Tax Incentive Program) or other available programs.

Purchase

Right-of-first-refusal

• The landowner expresses the desire to sell land at some point in the future.
• The landowner must offer to sell the property to the conservation agency or organization at the same price as the offer by a third party prior to sale of the lands to that third party.
• There is a chance to match an offer on the property before proceeding with a sale.

Option to purchase

The landowner agrees to sell the property in the future to a conservation agency or organization in consideration of a payment in the present. This secures the buyer's ability to buy at a future date for a price to be determined at that future date.

Life estate

• The landowner donates or sells land but retains entitlement to use the land within restrictions of the life-estate agreement.
• The estimate is made on the value of the use of the land and subtracted from fair market value of the property at the time of purchase. The net amount is the purchase price for the property.
• May result in favourable tax treatment for the landowner.

Land trading

Lands that no longer fulfill current objectives and priorities are traded or exchanged for more desirable lands.

Split receipting

The property is sold to a conservation agency or organization at a reduced price. The remainder of fair market value of the property results in a charitable gift to the conservation agency or organization.

Purchase/sale back

• Purchase of entire property on open market to protect the ecological function located on a portion of land.
• Sections may be severed and remaining lands may be sold.

Fee–simple estate

The outright purchase of a property and transfer of legal title to a conservation agency or organization.