When a mortgage predates an easement on a property, the easement could be extinguished in a foreclosure if the owners default on their mortgage payments. And if the easement is to be donated and the donors wish to obtain tax benefits, additional complications arise. These problems can be avoided by obtaining an agreement from the mortgage holder appropriate to the circumstances. WeConservePA guide. 9 pages.
http://conservationtools.org/guides/55
Year: 2023
Author(s): Andrew M. Loza
Organization/Source: WeConservePA (formerly Pennsylvania Land Trust Association)
Topic tags: Conservation Easements, Mortgage Subordination and Non-Disturbance Agreements, and Print Editions of WeConservePA Guides
Related guides: Conservation Easement and Pre-Existing Mortgages in Easement Transactions
The first edition was published in 2010 and the latest edition in 2023.
