Vt. Stat. Ann. tit. 10, § 821

As used in this chapter:

(1) "Conservation rights and interests" mean rights held by a qualified holder to restrict or condition the use, modification, or subdivision of a land or water area and rights to perform, or require the performance of, specified activities with respect thereto. These rights and interests shall be for the purpose of maintaining, enhancing, and conserving that land or water area, including improvements thereon, predominantly in its natural, scenic, or open condition, or in agricultural, farming, forest, wildlife, or open space use, or for public recreation, or in other use or condition consistent with the purposes set forth in section 6301 of this title.

(2) "Preservation rights and interests" mean rights held by a qualified holder to restrict or condition the use, modification, or subdivision of a structure or site, and rights to perform, or require the performance of, specified activities with respect thereto. Such rights and interests shall be for the purpose of preserving, rehabilitating, or restoring a structure or site having significant historical, architectural, cultural, or archaeological characteristics.

(3) "Qualified holder" and "holder" mean: a municipality, department, or board of the State of Vermont;

(4) an organization qualifying under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, provided one of the stated purposes of the organization is to acquire property or rights and interests in property in order to preserve historic, agricultural, forestry, or open space resources;

(5) an organization qualifying under Section 501(c)(2) of the Internal Revenue Code of 1986, as amended, provided that organization is controlled exclusively by an organization or organizations described in subdivision (B) of this subdivision (3); and