Listing in the National Register honors the property by recognizing its importance to its community, State, or the Nation.

Under Federal law, private property owners can do anything they wish with their National Register-listed property, provided that no Federal license, permit, or funding is involved.

Owners have no obligation to open their properties to the public, to restore them, or even to maintain them, if they choose not to do so.

To ensure public participation in the nomination process, property owners and local officials are notified of proposed nominations to the National Register and provided the opportunity to comment. In addition, once a nomination is submitted to the National Park Service another public comment period is published in the Federal Register.

Private property owners may object to the proposed nomination of their property to the National Register. If a majority of private property owners objects to a nomination, then the property cannot be listed in the National Register.

Federal agencies whose projects affect a listed property must give the Advisory Council on Historic Preservation an opportunity to comment on the project and its effects on the property.

Owners of listed properties may be able to obtain Federal historic preservation funding, when funds are available. In addition, Federal investment tax credits for rehabilitation and other provisions may apply.