Practice 10B: Legal Requirements: Land Trust Responsibilities

This guidance covers Practice 10B, which has three elements:

1. If the land trust holds federally tax-deductible conservation easements, it meets the requirements for a qualified organization under IRC §170(h) 

2. ⬤ Sign the Form 8283 only if the information in Section B, Part I, “Information on Donated Property,” is complete and is an accurate representation of the gift 

   1. ⬤ a. Refuse to sign the Form 8283 if the land trust believes no gift has been made or the property has not been accurately described

3. File IRS Form 8282 when conveying a donated real property interest within three years of the date the land received the property 

⬤ Accreditation indicator element | ■ Terrafirma enrollment prerequisite | ▲ Required for both