A Protective Covenant For Property In Phoenix
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Protective covenants in real estate are legally binding conditions written into the deed of a property or a homeowners' association (HOA) rules that dictate how a property can be used and what alterations can be made to it.
To find out whether a property is subject to covenants, reviewing the property's deeds is often a good place to start. You may also want to ask your real estate attorney to help. Keep in mind that HOA rules can vary in strictness, and they may not suit everyone.
Restrictive covenants are most common when your property is part of a homeowners association, inium association, or planned community. Typical limits include restrictions on how many people can occupy the home and the colors you are allowed to paint the exterior.
For example, a protective covenant may restrict the type of buildings that can be constructed on a property, dictate architectural styles, or set standards for landscaping.
Protective Covenants: Safeguarding Your Secret Sauce In general, it is a legal provision in an agreement or legal instrument where one party promises to take or is restricted from taking certain actions or otherwise has certain obligations to protect an interest of another party.
Positive covenants, also known as affirmative covenants, require a business to adhere to certain terms. They might require that the company maintains a certain type of insurance or delivers audited financial statements to the lending institution.
There are several covenants in the Bible, but five covenants are crucial for understanding the story of the Bible and God's redemptive plan: the Noahic Covenant, the Abrahamic Covenant, The Mosaic Covenant, the Davidic Covenant and the New Covenant.
In Arizona, CC&Rs are usually enforced by homeowners associations (HOAs). In many cases, however, they may also be enforced by individual homeowners.
If a deed restriction is not enforceable, you can choose to ignore it and take on the risk of a neighbor filing suit, or you can seek out a judge's ruling to have the covenant removed from the deed. Obtaining that ruling is easier when no one is actively enforcing the covenant.
