Wall v. Comr., T.C. Memo. 2012-169

(petitioner donated permanent easement to qualified charity on house in historic district in Evanston, IL, to protect architectural aspects of the hosue (facade easement); house subject to mortgage at time of donation and appraisal value easement at $400,000 and petitioner claimed deduction attributable to easement of $129,448; deduction disallowed due to easement not being protected in perpetuity because holder of mortgage had preferential claim to all future insurance and condemnation proceeds up to amounts of outstanding balances of mortgage at that time; Treas. Reg. Sec. 170A-14(g)(6) not satisfied).