Illinois Declaration of Restrictive Covenants
Definition and meaning
The Illinois Declaration of Restrictive Covenants is a legal document that defines certain restrictions placed on real estate ownership and usage. These covenants serve to maintain the character of the property and govern what activities can take place on it. Typically utilized in real estate transactions, this document is essential for ensuring that all parties involved understand their rights and obligations regarding the property.
Key components of the form
This declaration contains several important components that potential users should be aware of:
- Declarant Information: Identifies the entity or individual making the declaration.
- Effective Date: Specifies when the declaration takes effect.
- Property Description: Details the specific real estate to which the covenants pertain.
- Restrictive Covenants: Lists specific restrictions on property usage, such as limitations on commercial banking operations.
- Duration: Defines the time frame for which these restrictions are applicable.
Who should use this form
This form is ideal for property owners, real estate developers, and legal professionals involved in transactions that include covenants on the use of real estate. If you are planning to purchase or develop land in Illinois and want to impose or understand specific usage restrictions, this declaration is essential.
Legal use and context
The Illinois Declaration of Restrictive Covenants is often used in real estate law to impose limitations on how a property can be used. It is common in certain neighborhoods or developments where a uniform appearance or specific types of business activities are desired. These declarations are legally binding and must be recorded with the county to ensure enforceability.
Common mistakes to avoid when using this form
Users should take care to avoid several common pitfalls, including:
- Failing to specify the duration of the covenant, which can lead to confusion.
- Not recording the declaration properly with the county, risking its enforceability.
- Neglecting to consult with legal professionals to ensure all terms are clear and comprehensive.
- Using vague language that could make the covenants hard to enforce.
Form popularity
FAQ
Limitations On Home Color. Rent And Lease Restrictions. Restrictions On Business Usage. Limitations On Permissible Pets. Requirements For Exterior Maintenance. Restrictions On Exterior Constructions.
A restrictive covenant is a clause in a deed or lease to real property that limits what the owner of the land or lease can do with the property. Restrictive covenants allow surrounding property owners, who have similar covenants in their deeds, to enforce the terms of the covenants in a court of law.
Enforcing Restrictive Covenants An injunction is a discretionary remedy which a court is more likely to grant if it is applied for promptly. However before taking legal action it is important to establish that you do have the right to enforce the covenant.
Can I get a restrictive covenant removed? If there is a covenant on your property which is obsolete, you can make an application to the Upper Tribunal (Lands Chamber) (which use to be known as the Lands Tribunal) asking for the covenant to be discharged or modified.