Land lease: You can lease the land to a farmer, developer, or other party for a set period and receive regular income.
Conservation easement: Donating a conservation easement to a qualified organization can protect the land’s natural features and potentially provide you with a tax deduction.
Gifting the land: You may choose to gift the land to a family member, charity, or other recipient. There may be tax implications associated with gifting, so consulting with a tax advisor is recommended.