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Everyday Examples Of A Restrictive Covenants Paint colors: Most associations control the color you can paint your house. This prevents neighbors from painting the house an obscene color that hurts property values. Landscaping: Some covenants restrict the type, size or color of the landscaping homeowners can have.
Covenants can be unenforceable if they expire, if there is a history of the covenant being violated, or if there is no individual or group benefiting from them. Otherwise, they are generally enforceable and you could face legal action if you ignore them.
1 Examples of affirmative covenants include requirements to maintain adequate levels of insurance, requirements to furnish audited financial statements to the lender, compliance with applicable laws, and maintenance of proper accounting books and credit rating, if applicable.
Negative covenants are actions you can't take, while positive covenants are actions you must take. For example, a negative covenant in real estate could prevent you from raising chickens on your property. On the other hand, a positive covenant could require you to mow your lawn.
For example, if two individuals enter into a contract where one promises to pay the other a certain amount of money, this is a personal covenant. If the person who made the promise dies, their heirs or assigns are not obligated to fulfill the promise.