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  2. Standard 10: Tax Benefits and Appraisals
  3. C. Avoiding Fraudulent or Abusive Transactions

C. Avoiding Fraudulent or Abusive Transactions

  • Review, on the land trust’s own behalf, each transaction for consistency with provincial and federal income tax deduction or credit requirements.
  • Evaluate any appraisal to determine whether the land trust has substantial concerns about the appraised value or the appraisal.
  • Discuss substantial concerns about the appraisal, the appraised value or other terms of the transaction with legal counsel and take appropriate action, such as:
    • Documenting that the land trust has shared those concerns with the donor
    • Seeking additional substantiation of value
    • Withdrawing from the transaction prior to closing