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.
Restrictive Covenants By The Transferee In Nassau
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Nassau
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The Land Use Act of 1978 is a law that governs land ownership and administration in Nigeria. It vests all land in each state in the governor, who holds it in trust for the people, and grants individuals or corporations rights of occupancy, rather than full ownership.
In the case of an HOA, restrictive covenants are general rules that members of your HOA vote on that all property owners living in the area must follow. The covenant may include actions you can't take with your property, like raising livestock or running a business from your home.
The Retained Land means each and every part of the land of the Seller adjoining or near or adjacent to the Property. Sample 1. the Retained Land means the land at the date of this Transfer vested in the freehold ownership of the Transferor and registered at Land Registry under title number GR187674.
The primary remedy for breach of a Restrictive Covenant is a permanent injunction to restrain the breach. However, the courts have jurisdiction to award damages instead of an injunction.
The owner of the new build that continued the original terrace is deemed the "owner of the Retained Land", with the premises of that house being the Retained Land.
The following are common types of restrictive covenants between companies and their employees: Non-compete agreement. Non-solicitation agreement. Non-disclosure agreement.
What does Restrictive covenants mean? A covenant requiring the covenantor not to do the thing specified. In order to be enforceable, such provisions should be reasonable and necessary for the protection of the target company's/target business' legitimate business interests.
Some of the most common restrictive covenants include: Alterations and extensions to the building. Changes to the use of a property, for example, converting a building into flats or turning a house into business premises. Rent and lease restrictions. Limitations on pets. Limitations on home colour.
A restrictive covenant is a contract between 2 landowners. One landowner promises the other landowner not to carry out certain acts on their own land. Restrictive covenants usually happen when somebody selling land wishes to restrict what the buyer can do with it.
In the United States, employers generally use four types of restrictive covenants: (1) covenants not to compete for a certain period of time following the employee's termination from employment (or following a business transaction such as a sale, merger, etc.); (2) covenants not to solicit customers or clients for a ...