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Conservancy Agreement Experiences?

My wife and I are house shopping in Michigan. Our minimum requirement is 2+ acres, since we enjoy the open space and lack of neighbors.

We found a house that meets our needs with 50+ acres of land and a price cheaper than we expected. After looking into it more, we discovered all but 3 acres are part of a conservancy agreement which prevents adding structures, trails, or anything else that would disturb the land. It is even noted that ATVs are not permitted off the existing trails. A representative comes out annually to ensure the agreement is being followed.

I've been able to find information about the potential tax relief benefits, but I have seen much conversation regarding actually living on land that is part of a conservancy agreement.

I would like to hear about your experiences after either inheriting or buying land with this type of conservancy easement.

How strict is the enforcement of the agreement?

Do you still feel like it is your land?

Anything else I should be aware of while considering this property?

submitted by /u/S0YL3NT
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/z2qpq4/conservancy_agreement_experiences/
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