Beveridge & Diamond
 

Chapter Land Statutes

Boston Bar Association, Real Estate Section, Title & Conveyancing Committee
June 21, 2007

Chapter Land Statutes
Boston Bar Association
Deborah A. Eliason
Thursday June 21, 2007, 12:00pm

Deborah A. Eliason will discuss the first major amendments to the so-called Chapter Land statutes ("Statutes") in over thirty years which have significant ramifications for all parties involved in these transactions. The Statutes offer a favorable tax classification for land held and used in accordance with the statutory requirements, that is for forest (Chapter 61), agricultural and horticultural (Chapter 61A), and open space and recreation purposes (Chapter 61B). In return, the municipality in which the land is located obtains a right of first refusal (ROFR) exercisable in the event the owner decides to sell or convert the land to a non-Chapter Land use. As the supply of land which is more easily developed dissipates, developers are more frequently buying Chapter Lands (which tend to be larger parcels). The development of these properties poses unique challenges since the municipalities hold a right of first refusal on them.

To sign up, please RSVP at http://www.bostonbar.org/rsvp.cfm?event=5592.