Deed Covenant Run With The Land
Description
How to fill out Michigan Covenant Deed?
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FAQ
A covenant that runs with the land is a type of agreement that transfers when ownership of the attached land transfers. This means that the future owner of the property subject to a covenant that runs with the land is bound by that covenant.
A covenant that runs with a land is a covenant that transfers when ownership of the attached land transfer. The future owner of the property subject to a covenant that runs with the land is bound by that covenant.
In order for a covenant to run with the land, however, two primary elements must be established: 1) the parties to the covenant intended it to run with the land, and 2) the covenant ?touches and concerns? the land (i.e. it must closely relate to the land, its use, or its enjoyment).
Running with the land refers to easements and other rights that remain with property even after being transferred. For example, if a property has an easement that runs with land to cross over the neighboring land, a person who buys the property could also cross the neighboring land.
A covenant is a formal agreement or promise, usually included in a contract or deed, to do or not do a particular act. Covenants are particularly relevant in the fields of contract law and property law. An example of a contractual covenant is a non-compete agreement.