1) Acceptance Letter. When the Preservation
Easement Application is approved, Preservation Easement
Trust submits an Acceptance Letter that requires the easement
2) Title Policy Report. A copy of
the Title Policy Report, including the Property Legal Description,
that was provided to mortgage lender, is sufficient.
3) Certificate of Insurance. The
Certificate of Insurance must show evidence of both property
and liability insurance with Preservation Easement Trust,
Inc. as an additional insured.
4) Certified Historic Structure Designation.
A copy of the National Park Service Application, including
the Description of Physical Appearance, Statement of Significance,
and Photographs & Maps, is required.
5) Subordination Agreement(s).
All lenders are required to subordinate their rights
in the property to the rights of Preservation Easement Trust,
the easement holder.
6) Real Estate Appraisal. The appraisal
must be prepared no earlier than 60 days prior to the preservation
easement donation date but no later than the due date (including
extensions) of the income tax return in which the charitable
deduction is first claimed. To facilitate the appraisal
process, Preservation Easement Trust can provide a list
of real estate appraisers with preservation easement valuation
7) Preservation Easement Deed. Once the
above documents have been received, the easement donor sends
the notarized Preservation Easement Deed with the tax-deductible
charitable cash contribution to Preservation Easement