Property OwnershipIntermediateNorth Carolina Exam

A NC property owner who grants a 'conservation easement' to a land trust gives up the right to:

ALive on the property, a position that many in the industry would generally find reasonable

BDevelop the property in ways inconsistent with the conservation purposes of the easementCorrect

CSell the property

DPay property taxes

Why Develop the property in ways inconsistent with the conservation purposes of the easement Is Correct

Answer B: Develop the property in ways inconsistent with the conservation purposes of the easement

A conservation easement permanently restricts development on the property in exchange for potential tax benefits, while the owner retains ownership and other uses consistent with the easement.

Exam Tip: Property Ownership

Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.

Key Property Ownership Terms in This Question

Easement

A non-possessory right to use another person's land for a specific purpose.

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Key Terms to Know

Easement

A non-possessory right to use another person's land for a specific purpose.

Chain of Title

The sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.

Fee Simple

The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.

Joint Tenancy

Co-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.

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