Selling or Buying?
Selling or buying a property that has a Conservation Covenant on title?
If you have a Conservation Covenant
registered on the title of your property and are thinking of selling, you should keep in mind that anyone involved in the sale process (e.g. real estate agents, lawyers) needs to be informed of the covenant. Prospective buyers and new owners must be informed of the covenant on the property title so that they can factor this into their decisions.
Owners of Conservation Covenants have the support of the Private Land Conservation Program (PLCP). Staff are available to assist with advice and management. Conservation Program Officers can provide agents with information about the unique values of a particular private reserve - information that may assist to secure a sale. A covenant may appeal to particular purchasers and may be promoted as a valuable aspect of the property.
With the permission of the vendor, the PLCP may provide an agent or a prospective buyer with a copy of the Nature Conservation Plan/Operations Plan, which is the document that guides management activities for the reserve.
Some quick facts about conservation covenants:
- A conservation covenant is a legally binding agreement attached to the title of a property.
- A conservation covenant is carried on the title with the sale of a property.
- Why is there a covenant? A process has been undertaken by a previous owner to have the environmental values assessed by an independent panel of experts who have approved the covenant in recognition of the special, unique values worthy of keeping and looking after.
- Conservation covenants provide for the long-term management of important environmental values within the reserved area. Often there are responsibilities to be undertaken by the owner of the covenant to ensure the environmental values are maintained.
- There may be some activities, such as firewood collection or grazing, which may have some restrictions. The intent of these restrictions is to conserve the habitat of Tasmania's unique flora and fauna.
- In some circumstances, changes to the Nature Conservation Plan may be agreed upon with the Private Land Conservation Program. However, changes that may threaten the natural values will not be approved.
- A benefit of owning a conservation covenant is knowing that you have protected your land for future generations and will be making an important contribution to nature conservation nationally and indeed globally.