Section 14-111 - Donation of conservation easement. - Maryland Statutes

§ 14-111. Donation of conservation easement.
 

(a)  "Beneficiary" defined.-  

(1) In this section, "beneficiary" means an ascertainable person who has a present or future interest in a trust estate. 

(2) "Beneficiary" includes: 

(i) If the beneficiary is a minor, the beneficiary's natural or legal guardian; or 

(ii) If the beneficiary is a disabled person, as defined in § 13-101 of this article, any person acting on behalf of the beneficiary under a guardianship, conservatorship, or committee. 

(b)  Donation prerequisites.- A trustee may donate a conservation easement on any real property, or consent to the donation of a conservation easement on any real property by a personal representative of an estate of which the trustee is a legatee, in order to obtain the benefit of the estate tax exclusion allowed under § 2031 (c) of the United States Internal Revenue Code of 1986, as amended, if: 

(1) The governing instrument authorizes or directs the donation of a conservation easement on the real property; or 

(2) Each beneficiary who has an interest in the real property that would be affected by the conservation easement consents in writing to the donation. 
 

[2000, ch. 603; 2007, chs. 18, 19.]