Preservation Easement Information
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Tax Deduction Information
Properties contributing to a National Historic District (but not individually designated) must complete National Parks Service Certification to ensure that their property will qualify for Federal tax benefits. Only Part 1 of the Certification Application is required for easement purposes.
In order to receive income tax deductions federally available for historic preservation resources, the property must be accessible to the public. This has been defined by the FL Department of State as "maintaining visibility from the right of way of a property, or in the case of an interior easement, opening the building up for tours."
Mortgage Information
Donating an easement on a property with an existing mortgage can be challenging. A mortgage entitles the lender to foreclose and take title in the event that the owner defaults on their payments, and this process would potentially extinguish the easement. To ensure the permanence of the easement, and to meet the federal requirements associated with tax benefits, a mortgage subordination agreement must be signed by the lender prior to acceptance of the easement.
Obtaining a future mortgage on a property held by a conservation and preservation easement is far less complicated due to the general rule of "first in time, first in right." Future lenders will be provided with the recorded copy of the easement as part of the chain of title.
Accountability Information
The Sarasota Alliance for Historic Preservation, as a private nonprofit organization is not subject to the decisions of the City Commission, the County Commission, or their advisory Historic Preservation Boards' review. This program is not limited to Nationally Registered or locally designated properties, so historic properties throughout Sarasota County are eligible.
Compliance
We take our stewardship of your historic property seriously. In the event that the condition of a property has declined to the point of endangering the building, the owner will be provided an opportunity and technical assistance to bring it into compliance. Failing to do so, the easement grants SAHP the right to undertake certain repairs or otherwise take measures to correct the issue.
Enforcement
An easement is a legally defensible agreement. In the event that future owners attempt to demolish or commit demolition by neglect, the Sarasota Alliance for Historic Preservation will undertake any necessary legal action to enforce the easement and protect the historic integrity of your building forever.
Questions?
We are here to help! Contact Erin DiFazio, Program Director at 941-529-1833 or preservesrq@gmail.com.