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.
The New Hampshire Agreement Creating Restrictive Covenants is a legally binding contract that outlines specific limitations or restrictions on certain property or individuals. This agreement serves to protect the rights and interests of parties involved in various situations such as employment, real estate transactions, or business partnerships. In New Hampshire, there are different types of agreements creating restrictive covenants, each with its own specific purpose and application: 1. Employment Restrictive Covenant Agreements: These agreements are commonly used in the employer-employee relationship to safeguard the employer's business interests and confidential information. They may include non-compete clauses, non-disclosure agreements, and non-solicitation clauses, which restrict employees from engaging in similar employment within a certain timeframe or geographical area after termination. 2. Real Estate Restrictive Covenant Agreements: These agreements pertain to limitations on property use and are often found in homeowner association bylaws, subdivisions, or land use restrictions. They control aspects like property maintenance, architectural designs, noise levels, or land use regulations to preserve the community's aesthetics and protect property values. 3. Business Partnership Restrictive Covenant Agreements: These agreements are entered into by partners in a business arrangement to establish limitations and obligations between them. They may address issues like preserving trade secrets, preventing a partner from competing with the business, or restricting the sharing of confidential business information with third parties. 4. Confidentiality Agreement: This type of restrictive covenant agreement primarily focuses on the protection of confidential information and trade secrets. It prevents individuals from disclosing sensitive business information to unauthorized parties or competitors, ensuring the preservation of a company's competitive advantage. 5. Non-Solicitation Agreement: This agreement restricts individuals from soliciting, recruiting, or attempting to lure clients, customers, or employees away from a company or organization. It aims to safeguard established relationships and prevent unfair competition or poaching of key resources. When drafting a New Hampshire Agreement Creating Restrictive Covenants, it is essential to consider the specific objectives and tailor the agreement's terms and conditions accordingly. Seek legal counsel to ensure compliance with the applicable laws and to address any variations or additional requirements that might arise based on the unique circumstances of the situation.
