Appraisal Institute, Land Trust Alliance Agree to Promote Appraisals for Conservation Easements
CHICAGO – October 15, 2015 – (RealEstateRama) — The Appraisal Institute and the Land Trust Alliance today announced they will enhance cooperative efforts to promote the quality of appraisals prepared for conservation easements.
The Appraisal Institute is the nation’s largest professional association of real estate appraisers with nearly 21,000 professionals in almost 60 countries. The Land Trust Alliance is a national land conservation organization with more than 1,100 member land trusts supported by more than 5 million members nationwide.
“As the nation’s pre-eminent appraisal organization, the Appraisal Institute welcomes the opportunity to once again lead on the important issue of open space conservation,” said Appraisal Institute President M. Lance Coyle, MAI, SRA. “We’re honored to further our work with the Land Trust Alliance by providing a range of guidance and education programs to real estate appraisers and land trusts alike.”
“We value the Appraisal Institute’s wisdom and expertise in matters concerning conservation easements,” said Land Trust Alliance President Rand Wentworth. “Together, we will continually improve the quality of such appraisals for the benefit of our many members and the deserving communities they serve. The beauty of American lands and the health of American families are sustained through this agreement.”
The agreement also calls for the two organizations to identify and promote education, experience and any other qualifications for appraisers to perform conservation easement appraisals, in addition to provide professional development to appraisers and land trust officials on appraising conservation easements. The Appraisal Institute maintains an industry-leading professional development program on the Valuation of Conservation Easements that has been successfully completed by nearly 900 real estate appraisers and which helps land trusts identify qualified appraisers.
The Appraisal Institute and the Land Trust Alliance agreed to improve valuation standards for conservation easements and to promote the importance of appraisal review to the conservation easement process, which has become increasingly important given increased scrutiny of non-cash charitable contributions.
The two organizations also agreed to encourage enforcement of existing requirements by state and federal revenue agencies and overall improvements to the tax system where donations of land and open space is concerned. They also will promote the award-winning book “Appraising Conservation and Historic Preservation Easements” by Richard J. Roddewig, MAI, which was published by the Appraisal Institute in 2011.
Founded in 1982, the Land Trust Alliance works to save the places people need and love by strengthening land conservation across America. The organization promotes voluntary land conservation and works with non-profit land trusts by providing the information, skills and resources that land trusts need to conserve land for the benefit of communities and natural systems. The Alliance is based in Washington, D.C., and operates several regional offices.
Read the memorandum of understanding between the Appraisal Institute and the Land Trust Alliance here:https://www.appraisalinstitute.org/assets/1/29/AI_LTA_MOU-4-2015_-_(Signed)_10_5_15.pdf
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The Appraisal Institute is a global professional association of real estate appraisers, with nearly 21,000 professionals in almost 60 countries throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Individuals of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA, SRA, AI-GRS and AI-RRS designations. Learn more at www.appraisalinstitute.org.
