In a deed, a grantee may agree to do something or refrain from doing certain acts. This agreement will become a binding contract between the grantor and the grantee. An example would be an agreement to maintain fences on the property or that the property will only be used for residential purposes. This kind of covenant is binding, not only between the grantor and the grantee, but also runs with the land. This means that anyone acquiring the land from the grantee is also bound by the covenant of the grantee. A covenant that provides that the grantee will refrain from certain conduct is called a restrictive or protective covenant. For example, there may be a covenant that no mobile home shall be placed on the property.
A restrictive or protective covenant may limit the kind of structure that can be placed on the property and may also restrict the use that can be made of the land. For example, when a tract of land is developed for individual lots and homes to be built, it is common to use the same restrictive covenants in all of the deeds in order to cause uniform restrictions and patterns on the property. For example, the developer may provide that no home may be built under a certain number of square feet. Any person acquiring a lot within the tract will be bound by the restrictions if they are placed in the deed or a prior recorded deed. Also, these restrictive covenants may be placed in a document at the outset of the development entitled "Restrictive Covenants," and list all the restrictive covenants that will apply to the tracts of land being developed. Any subsequent deed can then refer back to the book and page number where these restrictive covenants are recorded. Any person owning one of the lots in the tract may bring suit against another lot owner to enforce the restrictive covenants. However, restrictive covenants may be abandoned or not enforceable by estoppel if the restrictive covenants are violated openly for a sufficient period of time in order for a Court to declare that the restriction has been abandoned.
Covenants Form With 2 Points
Instant download
Description
Free preview
How to fill out Agreement Creating Restrictive Covenants?
Finding a go-to place to access the most current and appropriate legal samples is half the struggle of dealing with bureaucracy. Discovering the right legal documents requirements precision and attention to detail, which is why it is very important to take samples of Covenants Form With 2 Points only from reliable sources, like US Legal Forms. An improper template will waste your time and delay the situation you are in. With US Legal Forms, you have very little to worry about. You can access and see all the details regarding the document’s use and relevance for the situation and in your state or county.
Take the listed steps to complete your Covenants Form With 2 Points:
- Utilize the library navigation or search field to locate your sample.
- Open the form’s information to ascertain if it fits the requirements of your state and region.
- Open the form preview, if there is one, to make sure the form is the one you are interested in.
- Return to the search and locate the right document if the Covenants Form With 2 Points does not match your needs.
- When you are positive about the form’s relevance, download it.
- When you are an authorized user, click Log in to authenticate and access your picked forms in My Forms.
- If you do not have an account yet, click Buy now to obtain the form.
- Choose the pricing plan that suits your needs.
- Proceed to the registration to finalize your purchase.
- Finalize your purchase by picking a transaction method (credit card or PayPal).
- Choose the document format for downloading Covenants Form With 2 Points.
- When you have the form on your device, you may alter it using the editor or print it and finish it manually.
Get rid of the hassle that accompanies your legal paperwork. Check out the comprehensive US Legal Forms library to find legal samples, check their relevance to your situation, and download them on the spot.
Form popularity
FAQ
The Concept of Covenant Each covenant established the basis of a relationship, conditions for that relationship, promises and conditions of the relationship and consequences if those conditions were unmet. One of the most familiar examples of a covenant for us is marriage.
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.
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.
For example, restrictive covenants can prevent owners and tenants from making certain renovations, having pets, parking RVs in the driveway, or raising livestock. Covenants that pass from owner to owner are said to "run with the land."
Affirmative Bond Covenants 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.