This historically significant 730-acre antebellum plantation is comprised of 11 parcels and includes a Greek Revival manor house and numerous secondary structures and agricultural buildings. A 208-acre portion of the property was encumbered by a conservation easement donated in 2001 to the National Trust for Historic Preservation of the United States (the “National Trust”), and 100 acres had been donated in fee to the National Trust and was encumbered by a life estate.
The owner wished to donate his interests in the entire property to the National Trust, and hired LandVest to prepare a qualified appraisal to determine current market values in order to substantiate the donation for tax filing purposes.
LandVest conducted a site inspection, reviewed deeds, updated maps and plans, reviewed and summarized local, state, and federal land use and environmental regulations, and conducted a market and financial analysis of closed and pending transactions in the area. The report included separate appraisals of the entire subject property and the life-estate-encumbered portion of the subject property. In both cases the value was subject to the hypothetical condition that the property is not partially encumbered by the life estate. The appraisal also recommended a strategy for disposition based on a highest and best use valuation.
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