§ 14-111. Donation of conservation easement

   (a) "Beneficiary" defined. --

   (1) In this section, "beneficiary" means an ascertainable person who has a present or future interest in a trust estate.

   (2) "Beneficiary" includes:

      (i) If the beneficiary is a minor, the beneficiary's natural or legal guardian; or

      (ii) If the beneficiary is a disabled person, as defined in § 13-101 of this article, any person acting on behalf of the beneficiary under a guardianship, conservatorship, or committee.

(b) Donation prerequisites. -- A trustee may donate a conservation easement on any real property, or consent to the donation of a conservation easement on any real property by a personal representative of an estate of which the trustee is a legatee, in order to obtain the benefit of the estate tax exclusion allowed under § 2031(c) of the United States Internal Revenue Code of 1986, as amended, if:

   (1) The governing instrument authorizes or directs the donation of a conservation easement on the real property; or

   (2) Each beneficiary who has an interest in the real property that would be affected by the conservation easement consents in writing to the donation.

HISTORY: 2000, ch. 603; 2007, chs. 18, 19.