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Long-term lease

  1. A rental agreement for a specific period of time. In land conservation work, this can be a good option for someone who is not willing to permanently sell land or place a conservation easement on it, but is willing to have it managed for conservation purposes. It allows unrestricted and exclusive use by the leasing agency. It is not a charitable donation and may affect the property value for estate tax purposes. [Source: Landowner Options, Land Conservancy of North Kingstown, http://www.lcnk.org/lcnkPage.cfm?sec=17&opt=0#cov]