64.1-57.3 - Power granted to personal representatives and trustees to donate conservation easements.
§ 64.1-57.3. Power granted to personal representatives and trustees to donateconservation easements.
Personal representatives and trustees, whether heretofore or hereafterqualified or appointed, are hereby granted the power to donate a conservationeasement as provided in the Virginia Conservation Easement Act (§ 10.1-1009et seq.) or an open-space easement as provided in the Open-Space Land Act (§10.1-1700 et seq.) on any real property of their decedents and settlors, inorder to obtain the benefit of the estate tax exclusion allowed under §2031(c) of the United States Internal Revenue Code of 1986, as amended,provided they have the written consent of all of the heirs, beneficiaries anddevisees whose interests are affected thereby. Upon petition of the personalrepresentative or trustee, the circuit court may give consent on behalf ofany unborn, unascertained or incapacitated heirs, beneficiaries or deviseeswhose interests are affected thereby after determining that (i) the donationof the conservation easement will not adversely affect such heirs,beneficiaries or devisees or (ii) it is more likely than not that such heirs,beneficiaries or devisees would consent if they were before the court andcapable of giving consent. A guardian ad litem shall be appointed torepresent the interests of any unborn, unascertained or incapacitated persons.
(1999, cc. 503, 527; 2009, c. 588.)