Unsubordinated mortgage voids deduction for easement

The Eighth Circuit Court of Appeals has agreed with decisions in the Ninth and Tenth Circuits and has held that the grant of a conservation easement is not eligible for a charitable contribution deduction when the underlying property is subject to a mortgage that has not been subordinated to the easement. As a result, RP Golf, LLC, the owner of two private golf clubs in Missouri, has lost its claim for a $16.4 million deduction.

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Unsubordinated mortgage voids deduction for easement

Unsubordinated mortgage voids deduction for easement