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.
Nebraska Agreement Creating Restrictive Covenants
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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..
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.
A restrictive covenant or non-competition agreement entered into incident to the sale of a business protects the goodwill acquired by the buyer and ensures that the seller (i.e., former owner) does not walk away from the completed transaction with the business's goodwill and customers, leaving the buyer with a purchase ...
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.
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.
Nebraska courts will, however, enforce a non-solicitation restriction if certain criteria is satisfied (Nebraska courts may also enforce a non-compete but only in the sale of a business context).
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.
A PRACTICAL GUIDE TO RESTRICTIVE COVENANTS IN NEBRASKA Restrictive covenants include confidentiality, non-competition, and non-solicitation obligations, and come in a wide variety of purposes and scopes.