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2019 SESSION

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SB 499 Conservation easements; validity, termination.

Introduced by: Charles W. Carrico, Sr. (by request) | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Agriculture easements; validity; termination. Prohibits a restriction imposed by a conservation easement from being enforced against any occupied single-family dwelling structure, including any outbuilding, shed, barn, garage, or driveway, or the land lying immediately underneath any such structure, for the purposes of additions, repairs, or sale. The bill authorizes the owner of an interest in real property burdened by the easement to terminate such easement in the event of financial hardship. Such owner shall be liable to the Department of Taxation for the full amount of any land preservation tax credits claimed or transferred by the owner that are related to the easement and shall pay any legal fees associated with the termination of the easement. Until such payments are made, such conservation easement shall be considered perpetual in duration unless otherwise provided in the instrument creating it.


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