If you are planning on buying a home, condominium, townhouse, or other property, you must take note of whether any restrictive covenants will affect your ability to use your new residence.
Georgia Agreement Creating Restrictive Covenants
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FAQ
Are discriminatory restrictive covenants illegal? Generally, yes. Since the United States Supreme Court's 1948 decision in the case Shelley v. Kraemer, restrictive covenants based on race have been unenforceableA contract will not be enforced by a court of law..
When a party enters into a restrictive covenant, he/she agrees to refrain from doing something or from using a property in a certain way that is restricted by the contract. For example, when purchasing real estate, the buyer may agree to use the property for the designated purpose only and not for other purposes.
A restrictive agreement, or restrictive covenant, is a legal contract between two or more parties that restricts one or more of the parties from engaging in certain activities. These agreements are often used to protect trade secrets, businesses interests, and other confidential information.
Notwithstanding any other provision of this chapter, enforcement of contracts that restrict competition during the term of a restrictive covenant, so long as such restrictions are reasonable in time, geographic area, and scope of prohibited activities, shall be permitted.
Restrictive covenants in the labor and employment context are agreements between an employer and employee that restrict the activities of an employee following a separation of employment.
Restrictive covenants are clauses that prevent, prohibit, restrict, or limit the actions of a person or entity named in a contract. Restrictive covenants are common in real estate transactions and apply to everything from the colors you can paint your house to how many tenants can live in a building.
To constitute a valid contract, there must be parties able to contract, a consideration moving to the contract, the assent of the parties to the terms of the contract, and a subject matter upon which the contract can operate.
No discovery shall be had unless ordered by the court for good cause. In addition, the superior court shall be authorized to issue a summary ruling on the conveyance of any intended common areas or other property in the common interest community to the association or other appropriate entity.