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 STEP-BY-STEP GUIDE TO GIFTS OF LAND FOR CONSERVATION
If you are interested in donating Land to be conserved by KHLT, these steps will be followed:
1. Evaluate property: KHLT representatives will visit your property to evaluate its ecological, recreational, or scenic values, visually check for hazardous materials, and make a preliminary determination as to whether your property meets KHLT's criteria for acquisition.
2. Discuss landowner's objectives and review alternatives: A KHLT representative will meet with you at the KHLT office or your home to discuss your objectlves for the property and review your options for donating the property. Because KHLT will be assuming the responsibility for protecting this land in perpetuity, we wiIl discuss with you a financial contribution to our Stewardship Fund which pays for managing our properties. You should then review this information with your personal tax and legal advisors.
3. Request KHLT Board approval: If you decide to go forward with a gift of land, a KHLT representative will present a review of the property and restrictions to the KHLT Board of Directors at the next regularly scheduled board meeting for formal board approval.
4. Prepare letter of intent: KHLT will prepare a letter of intent, to be signed by all parties, setting forth the terms of the donation.
5. Check title: KHLT requires proof of clear title. All taxes are expected to be current. Usually, the land donor purchases title insurance.
6. Prepare conveyance documents: KHLT representatives and legal counsel prepare a grant deed.
7. Obtain an appraisal: If you or your advisor determines that the donation will qualify as a charitable gift, you must select and hire an appraiser to analyze the market value of the property at the time of the gift. KHLT can provide you with a list of appraisers.
8. Sign deed: After a final review of the documents, you will sign the deed. KHLT will record the deed at the appropriate recorder's office.
9. Submit Form 8283 to the IRS: You must attach IRS 8283 (for "Noncash Charitable Contributions") to the income tax return that you submit for the year in which the land donation was made.
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