An easement is a voluntary agreement between a land owner and an authorized governmental agency or conservation organization that protects the land from future development. Generally, easements limit development potential, but some easements are designed to address specific aspects of a property such as natural or historic resources or scenic views. Whether the goal of the easement is to prevent all or some development on a property, protect a large stand of forest from being logged, or preserve a view across a pristine valley, the conservation mechanism and end result are the same. The land owner agrees to protect or preserve certain aspects of their property, which are detailed in a Deed of Easement, in exchange for monetary compensation or other financial benefits. Easements either can be purchased or donated, each having their own financial considerations, but the end result is that the conservation goals of a land owner and/or an outside organization are achieved through perpetual restrictions in a legal document voluntarily entered into and whose terms are mutually agreed upon.

Generally, easements in Carroll County focus on limiting development, rather than protecting resources or views. Historically, these easements have aimed to preserve agricultural land and have paid farmers for the development rights that they otherwise would be able to utilize. When an organization such as MALPF, which is qualified to hold an easement, purchases that easement from a willing land owner, the land owner is monetarily compensated for the value of their property's development potential in return for the agreement not to develop the property except for specific rights that the land owner retains. Donated easements achieve the same result as purchased easements, except land owners do not receive direct monetary compensation. Donated easements may result in substantial income, estate, and property tax reductions, however. These reductions can come in the form of property tax credits, income tax deductions for the charitable gift of the value of the easement, and/or lower estate and inheritance taxes due to the property's reduced development potential. The particular financial benefits of either selling or donating an easement are unique to each land owner, and a decision to enter into an easement agreement should be made in consultation with an accountant or other financial advisor.