Preserving Land for Outdoor Recreational and Educational Use
From: Conservation Easements: The Federal Tax Rules and Special Considerations Applicable to Syndicated Transactions
By: Bryan Mick, JD, MBA and Bradford Updike, JD, LLM
Mick Law P.C.
The preservation of land for outdoor recreational or educational use requires that the general public be granted substantial and regular physical access to the preserved land.1 Examples of such purpose are provided within the Treasury Regulations and include the preservations of (i) a water area for the use of the public for boating or fishing, or (ii) a nature or hiking trail for the use of the public. 2 Property that is not made available to the public for access and use must satisfy one of the other requirements.
Bryan S. Mick is the President of Mick Law P.C. in Omaha, Nebraska, and a provider of independent due diligence legal services for various broker-dealers and registered investment advisors throughout the country.
Brad Updike joined Mick Law in August 15, 2006, and his areas of practice include securities law, oil and gas, private equity, conservation real estate, DPP due diligence, taxation analysis relating to securitized financing, and securities advertising practices. On a local level, Mr. Updike has also served the legal needs of Omaha-based clients on matters relating to estate planning, private placements, trademark law, and 501(c)(3) non-profit taxation matters.
Bryan Mick, Bradford Updike, Mick Law P.C., SANDLAPPER Securities, LLC, Sandlapper Wealth Management, LLC, and TRIPS are unaffiliated.
1 Treas. Reg. § 1.170A-14(d)(2)(ii).
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