What is a conservation covenant? The legal definition of a
covenant is: A promise contained in a deed to land or real
estate which is binding upon the current owner and all future
owners. It defines the limitations, conditions or restrictions
on the use of that land. A conservation covenant is a voluntary
agreement made between a landholder and an authorised body (such
as a Covenant Scheme Provider) that aims to protect and enhance
the natural, cultural and/or scientific values of certain land.
The owner continues to own, use and live on the land while the
natural values of an area are conserved by the landholder in
partnership with the Covenant Scheme Provider. Covenant Scheme
Providers can be not-for-profit organisations, government
agencies or local Councils that can enter into conservation
covenants with landholders to protect land with conservation
values. Covenants agreed through approved programs can be
eligible for taxation concessions. More information on tax
concessions: - Tax concessions for landow