Covenants Form With Covenants
Description
How to fill out Agreement Creating Restrictive Covenants?
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FAQ
An affirmative covenant obligates a person to act. For example, a covenant that requires the homeowner to keep the trees trimmed in the yard is an affirmative covenant.
Negotiation ? if you know who has the benefit of the covenant, you may be able to negotiate with them to release it, usually in return for a payment. Sometimes adjacent plots of land are subject to matching covenants and if this is the case, you may be able to agree a mutual release.
You can make a covenant by completing the Deed of Covenant Form for Individuals (pdf). You can also ask a professional adviser such as a solicitor or accountant to make a deed. The deed must be properly drawn up, signed, witnessed, sealed and delivered to the covenantee.
When a party enters into a restrictive covenant, he/she agrees to refrain from doing something or from using a property in a certain way that is restricted by the contract. For example, when purchasing real estate, the buyer may agree to use the property for the designated purpose only and not for other purposes.