Text (LG+errata): Enchant land. ; Enchanted land has "{Tap}: Counter target spell if it would destroy a land you control." [Oracle 2005/08/01]
The ability can target any spell, even one that would not destroy a land. [D'Angelo 2000/03/03]
When the ability resolves, it only counters the targeted spell if that spell would destroy a land if it resolved right then. [D'Angelo 2000/03/03]
Cannot be used to counter abilities of permanents such as Demonic Hordes or others which destroy lands. [bethmo 1994/06/14]
Will not counter a spell that deals damage to an animated land, even if it would deal more damage than the land's toughness. This is because the spell itself does not destroy the land directly. The land is destroyed indirectly by a game rule. [Barclay 2003/01/20] This is a REVERSAL.
Will not counter a spell like Demonic Hordes which creates a possibility of a land being destroyed at a later time. [bethmo 1994/06/15]
Will not counter a spell which would indirectly cause destruction of one of your lands. For example, casting Resurrection on a Mold Demon or casting Terror on a creature while Earthlink is in play. [Aahz 1995/11/21]
Will not counter a spell that has a random chance of destroying a land, such as Falling Star or Chaos Orb. [Aahz 1996/04/16]
Will not counter a spell which requires sacrificing when it enters play such as Mold Demon or Wood Elemental. [Aahz 1996/11/07] Or ones that requires sacrificing as part of the play cost. [Aahz 1994/12/17]
Will not counter Catastrophe because the decision to destroy lands is made during resolution, so at the time this ability resolves, it it not certain that Catastrophe would destroy any lands. [D'Angelo 2008/09/06]
Does not stop the sending of the land from play into its owner's hand. Or to any place other than the graveyard. [Aahz 1994/06/16]
Extended tournaments (see Rule 913) have always banned this card.