In the United States, a conservation easement (also called conservation covenant, conservation restriction or conservation servitude) is a power invested in a qualified private land conservation organization (often called a "land trust") or government (municipal, county, state or federal) to constrain, as to a specified land area, the exercise of rights otherwise held by a landowner so as to achieve certain conservation purposes. It is an interest in real property established by agreement between a landowner and land trust or unit of government. The conservation easement "runs with the land", meaning it is applicable to both present and future owners of the land. The grant of conservation easement, as with any real property interest, is part of the chain of title for the property and is normally recorded in local land records.

The conservation easement's purposes will vary depending on the character of the particular property, the goals of the land trust or government unit, and the needs of the landowners. For example, an easement's purposes (often called "conservation objectives") might include any one or more of the following:

• Maintain and improve water quality;
• Perpetuate and foster the growth of healthy forest;
• Maintain and improve wildlife habitat and migration corridors;
• Protect scenic vistas visible from roads and other public areas; or
• Ensure that lands are managed so that they are always available for sustainable agriculture and forestry.

The conservation easement's administrative terms for advancing the conservation objectives also vary but typically forbid or substantially constrain subdivision and other real estate development.

The most distinguishing feature of the conservation easement as a conservation tool is that it enables users to achieve specific conservation objectives on the land while keeping the land in the ownership and control of landowners for uses consistent with the conservation objectives.

Unlike land use regulation, a conservation easement is placed on property voluntarily by the owner whose rights are being restricted. The restrictions of the easement, once set in place, are however perpetual (and potentially reduce the market value of the remaining ownership interest in the property). Appraisals of the value of the easement, and financial arrangements between the parties (land owner and land trust), generally are kept private.

The landowner who grants a conservation easement continues to manage and otherwise privately own the land and may receive significant state and federal tax advantages for having donated and/or sold the conservation easement. In granting the conservation easement, the easement holder has a responsibility to monitor future uses of the land to ensure compliance with the terms of the easement and to enforce the terms if a violation occurs.

Although a conservation easement prohibits certain uses by the landowner, such an easement does not make the land public. On the contrary, many conservation easements confer no use of the land either to the easement holder or to the public. Furthermore, many conservation easements reserve to the landowner specific uses which if not reserved would be prohibited. Some conservation easements confer specific uses to the easement holder or to the public. These details are spelled out in the legal document that creates the conservation easement.