Asheville Real Estate- Land Journal
Not long ago, a 1031 Like-Kind Exchange client traded her beachfront resort condo with its cumbersome property management responsibilities, for the relative freedom of a land purchase. This was a sixty-plus (60+) acre tract. It was endowed with amazing and very obvious natural features. She f
ound it attractive not just for the beauty, but for the freedom.
Here she can hike, camp or simply sit quietly observing the star-studded night sky. She is free to go, unencumbered by HOA dues and property management expectations, with a simple picnic basket to enjoy the waterfall. (see photo)
To watch over the Beauty for generations to come, this client could create a private land trust with protective covenants which might provide additional tax advantages.
Of course, her acreage must qualify as an "outstanding natural area," having natural character. It must either provide habitat for rare or endangered species of plants or animals, or have scenic or other features of scientific or educational value.
But what about her plan to build in the future?Should she choose to build in the future, she would customize the conservation restriction she imposed at the time of purchase, to allow for limited construction under strict guidelines that protect the property's natural assets.
This post is part of a series on 1031 Like Kind Exchanges- "Invest in What is Important to YOU"
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(*)/'(*) ________The Asheville NC Real Estate Journal . Mountain Homes and Land Legacies- Asheville NC Real Estate © 2011. NAR GREEN®, EcoBroker®, Eco Certified ®Real Estate Consultant. INFORMED CHOICES. THOUGHTFUL ADVICE. Email me to request a copy of EPA's Sustainable Design and Green Building Toolkit- janeAnne@janeAnne.com
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Asheville NC Real Estate Journal for Mountain Homes and Land Legacies- Asheville 1031 Realty© 2012.. Designations: NAR GREEN®, EcoBroker®, Eco Certified ®Real Estate Consultant, ePRO®. Unauthorized reproduction of any information including photos and graphics on this site is a violation of existing copyright laws. All rights reserved.
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☂janeAnne, what a great trade this is. The acreage is gorgeous! I've not had an opportunity to assist in a 1031 but it sounds so intriguing. Will she be able to build at all on this property?
Pamela
It is a wonderful opportunity. Thanks for your comment.