Giving your land to the Alaska Farmland Trust is an incredibly generous legacy that you can leave to future generations. It can also provide you with many benefits for you and your heirs:
- Ensure permanent protection of your property through a conservation easement;
- Providing you with a potential charitable income tax deduction for the FULL fair market value of your property;
- While eliminating capital gains taxes on appreciated value which would otherwise be payable if your property was sold;
- Removing your property from your own taxable estate;
- Releasing you from the stress and cost of managing your property; and
- Providing long-term financial support for AFTC.
You have the option to donate your land to us, but reserve the right for yourself, and for others to enjoy the property during their lifetimes. This is known as a gift of remainder interests and are usually made by landowners who irrevocably want to leave their property to the Alaska Farmland Trust.
This allows you to take immediate income tax deduction and ensures that the Alaska Farmland Trust will receive your land upon your death with ought and delay or expense of probate.
Please read more detailed information about remainder interest gifts. Or, call our office to start the process.
Land with conservation value: With properties that are 10 acres or more, we will review the property to see if the the land has any inherent conservation value as an agricultural parcel. If it does, we will place a conservation easement on the property before reselling it. The proceeds of the sale will go towards our stewardship endowment, helping us conserve additional land, or in support of one of our programs chosen by the donor. Properties less than 10 acres that may have conservation value will be considered as well. The property, with a conservation easement upon it, will be enrolled into our Alaska Farmlink program to be sold to interested, eligible farmers. This will foster the next generation of farmers in Alaska.
Land that does not have conservation value: We are happy to accept gifts of other types of real estate property (for example: houses or small build able lots). In order for us to accept these donations, we have a minimum criteria for us to accept these land gifts that include the Alaska Farmland Trust knowing about:
- The property having a clear title
- There being no back taxes on the property
- There are no outstanding legal fees with the property.
This will help us protect the proceeds from an eventual sale of the property, which means we will be able to put those funds towards conservation work. Most often we’ll sell the land to build our endowment, conserve more land, or put the funds towards a particular program.
If you are interested in giving land to the Alaska Farmland Trust, call our office.