The Real Right of Conservation law looks to promote the participation of the private sector in the conservation of the environmental heritage of Chile. In 2008, the Chilean National Congress began a legislative process in order to discuss the proposal of an innovative bill, seeking to involve private actors on environmental and biodiversity protection. After years of legislative discussion, in June 2016 the President of the Republic of Chile, promulgate the Law establishing the" right of conservation", which is a legal instrument that will allow Chile to move forward in the field of conservation and environmental protection.
In the case of Chile, the right of conservation consists in a binding agreement between the owner of a property and a third party. Under this agreement, the land owner permanently restricts the development and future use of his land, to ensure its protection and conservation. In turn the third party, who may be a University, Research Center, NGO's or a natural person, commits to protect and conserve the natural resources of the property.
The parties under this agreement must commit at least, one of the following restrictions:
• Prohibition of allocating land to real estate, commercial, industrial or other purposes.
• The obligation to maintain, clean up, repair and manage the property.
• Implement or supervise an environmental management plan for the rational and sustainable use of natural resources of
Once the agreement is concluded, it must be registered under the Burden and Mortgage Registry. Thus, constituting a real right that lies on the property, similarly to an easement. Therefore, it is not extinguished even if the property is sold or inherited.
Read more about the Law in the attachment.