Terms Used In New York Laws > Environmental Conservation > Article 49 > Title 3 - Conservation Easements

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Conservation easement: means an easement, covenant, restriction or other interest in real property, created under and subject to the provisions of this title which limits or restricts development, management or use of such real property for the purpose of preserving or maintaining the scenic, open, historic, archaeological, architectural, or natural condition, character, significance or amenities of the real property in a manner consistent with the public policy and purpose set forth in section 49-0301 of this title, provided that no such easement shall be acquired or held by the state which is subject to the provisions of article fourteen of the constitution. See N.Y. Environmental Conservation Law 49-0303
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grantor: The person who establishes a trust and places property into it.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Not-for-profit conservation organization: means a not-for-profit corporation organized inter alia for the conservation or preservation of real property and which has the power to acquire interests in real property. See N.Y. Environmental Conservation Law 49-0303
• Public body: means the state or a municipal corporation as that term is defined in § 2 of the general municipal law or the United States of America acting by and through the department of the interior. See N.Y. Environmental Conservation Law 49-0303
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Third party enforcement right: means a right which may be granted in a conservation easement which empowers a public body or a not-for-profit conservation organization which is not a holder of the easement to enforce any of the terms of the easement. See N.Y. Environmental Conservation Law 49-0303