Understand that if you are buying a property with a Conservation Easement, a previous owner has taken a drawdown in some monetary form, and the parcel is theoretically now of diminished value. A governing document will set out the allowed and disallowed uses. These may include a restriction on buildings, a clause tying the water rights to the property, inspection rights by the grantee, and so on. The land may be sold or otherwise transferred but the restrictions on the property remain.
