Glossary of Terms
Ecogift
An Ecological Gift or ecogift is a donation of land, or an interest
in land such as a servitude, a covenant or an easement, from a private
or corporate landowner to the federal government, a province or
a municipality in Canada, or to a qualified registered charitable
organization. In Ontario, Environment Canada must certify the land
as ecologically sensitive, the qualification of the recipient and
the fair market value of the donation.
Conservation easement
Most ecogift easements in Ontario are administered under the Conservation
Land Act, which is provincial legislation. A conservation
easement is an agreement voluntarily entered into between a landowner
and a qualified recipient organization, such as a land trust, Conservation
Authority or government agency, that sets out restrictions on land
use and management in order to protect the property over the longer
term. The easement consists of two parts: the easement
which allows the easement holder (the recipient) to gain access
to the land for inspection; and covenants
which are basically the restrictions upon the land. Easements are
registered on the title of the property and bind current and future
owners. Similar easements can be entered into with the Ontario Heritage
Foundation under the Ontario Heritage Act.
See also Conservation Options fact sheet.
Covenants
Common law covenants can be registered on the title of land and used to restrict certain land uses or activities. An example would include prohibiting building on the property. Such covenants are more limited in how they can be applied, and there are various registration restrictions.
Land donation and life estates, remainder interests and licenses
The simplest donation is donation of title. However, some recipients
are willing to enter into individual independent agreements that
allow donors, and sometimes donors' families, to continue to use
the land after title has been transferred. These agreements are
between the recipient and donor and will affect the fair market
value of an Ecological Gift. See also the Canada
Revenue Agency Interpretation Bulletin IT-226R.
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