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Engrossed Version Senate Bill 424 History

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SB424 SUB1 eng
ENGROSSED

COMMITTEE SUBSTITUTE

FOR

Senate Bill No. 424

(By Senators Unger and Yoder)

____________

[Originating in the Committee on the Judiciary;

reported March 25, 2005.]

____________


A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §44-1-29, relating to the authority of personal representatives with regard to conservation or preservation easements; and providing that a personal representative may sell, donate or amend conservation or preservation easements under certain conditions.

Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §44-1-29, to read as follow:
ARTICLE 1. PERSONAL REPRESENTATIVES.
§44-1-29. Authority of personal representative concerning conservation and preservation easements.

(a) A personal representative, trustee or executor is hereby granted the authority to:
(a) (1) Sell a conservation or preservation easement created under article twelve, chapter eight-a of this code or article twelve, chapter twenty of this code prior to the decedent's death;
(b) (2) Donate a conservation or preservation easement created under article twelve, chapter eight-a of this code or article twelve, chapter twenty of this code prior to the decedent's death; or,
(c) (3) Amend a conservation or preservation easement created under article twelve, chapter eight-a of this code or article twelve, chapter twenty of this code prior to the decedent's death and recorded on real property of their decedents and settlers 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.
(4) Execute a deed of conservation or preservation easement and related documents when decedent's application to establish and convey an easement was approved by a holder during the nine month period preceding the date of decedent's death but the deed of conservation or preservation easement and related documents were not signed by the decedent before his or her death: Provided, That before executing these documents the personal representative, trustee or executor complies with the provisions of subsection (b) of this section.
(5) Execute a deed of conservation or preservation easement and related documents when decedent's application to establish and convey an easement was submitted to a holder before decedent's death but is approved by a holder after the decedent's death:
Provided, That before executing these documents the personal representative, trustee or executor complies with the provisions of subsection (b) of this section.
(b) The personal representative, trustee or executor shall ensure that the sale, donation or amendment complies with the following:
(a) (1) The sale or donation satisfies the requirements set forth in the provisions of article twelve, chapter eight-a, or article twelve, chapter twenty of this code whichever is applicable to the particular easement;
(b) (2) A proposed donation is to a qualified conservation organization or holder and the organization or holder agrees to accept the conservation or preservation easement;
(c) (3) The sale or donation meets one of the following conditions:
(1) (A) All heirs, beneficiaries and devisees with interests in the real estate affected provide written consent; or
(2) (B) The will or other testamentary instrument directs the personal representative to sell or donate the conservation or preservation easement; or
(3) (C) The decedent has a current application for a sale or donation of a conservation or preservation easement and such conservation or preservation easement is in process of settlement.
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