This IRS Private Letter Ruling expands on a ruling from April 10, 1992 by stating that easement protected agricultural land may be exchanged for an unencumbered fee simple interest in any real property under section 1031 of the Internal Revenue Code.
IRS Ruling Qualifying Agricultural Conservation Easements for Like-Kind Exchange (2)
Administrative Regulations / Guidelines
Level of Government
Federal Administrative Regulations / Guidelines
Conservation Easements, Like-Kind Exchange, Purchase of Agricultural Conservation Easements
Priv. Ltr. Rul. 92-32-030 (May 12, 1992).