When considering a sale or transfer of your historic property, you may worry about the property’s future. A historic preservation easement can protect your historic building and unique place.

 

Preservation Easement Basics

​A preservation easement is a binding legal agreement that protects selected historic and architectural qualities of a property, ensuring they will not be destroyed or inappropriately altered. In a preservation easement, the owner voluntarily grants the responsibility to protect the historic property to Preserve Rhode Island. The owner retains all the usual rights to the property and can sell it or will it to whomever they wish.

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A preservation easement with PRI provides protection in perpetuity, ensuring that subsequent owners follow its terms. No two preservation easements are the same: they are individually crafted for the specific protected property and based on the owner’s wishes.

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Benefits of having a preservation easement on your property:

• Peace of mind knowing the property will remain intact

• Direct access to professional historic building and design expertise

• Facilitates estate planning

• May reduce property tax

• May qualify for federal income tax deduction