Restrictive Covenants By The Transferee In Ohio
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Description
The Agreement Creating Restrictive Covenants outlines essential covenants, conditions, and restrictions applicable to real estate in a designated subdivision in Ohio. This form is designed to maintain property values and ensure that the subdivision remains a desirable residential community. Key features include a declaration of the homeowners' association's authority, provisions for membership upon lot purchase, and guidelines for modifying the agreement with the consent of 75% of property owners. The form also emphasizes compliance with local laws and includes a sunset clause allowing for termination after a specified period. It is vital for attorneys, partners, owners, associates, paralegals, and legal assistants because it provides a framework for property governance, helps in mediation of disputes, supports compliance with real estate laws, and aids in preserving community standards. Users must accurately complete the exhibits and provide necessary signatures to validate the agreement. This form serves multiple use cases, including establishing community rules and facilitating legal enforcement of property rights.
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