Land trusts are increasingly in contact with landowners through conservation transactions that touch on or include water and water rights. At the same time, few land trusts have the experience or in-house capacity to engage with water. This panel will showcase western regional water transactions and instream flow transfers, including conservation strategy, permitting, funding, partners and "lessons learned." Presenters will highlight tools and showcase transactions which include water rights: sale, lease, and/or donation, valuations, as well as forbearance agreements and instream transfers pursuant to state law.