Real Estate Council of Alberta Fundamentals Practice Exam

What is a key aspect of a conservation easement?

1. It mandates government involvement in land use

2. It is a legally binding monetary agreement

3. It runs with the land voluntarily

4. It is only applicable to agricultural properties

The correct answer is: It runs with the land voluntarily

A conservation easement is a legal agreement that allows landowners to protect the conservation values of their property while retaining ownership. The aspect that it "runs with the land" means that the easement is attached to the property rather than the landowner. This ensures that the terms of the easement remain in effect even if the property changes hands over time. It typically restricts certain types of development or land use to preserve natural resources, wildlife habitat, scenic views, or agricultural land, making it a flexible tool that adjusts to ownership changes while conserving important ecological attributes. The voluntary nature of this agreement is significant, as it is entered into by the landowner who seeks to preserve certain conservation values of their land. This contrasts with the idea of mandating government involvement or being applicable only to agricultural properties, as conservation easements can pertain to various types of land and situations depending on the goals of the landowner.