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A restrictive covenant is an agreement that restricts a company or other party to a contract from engaging in certain actions. For example, a restrictive covenant entered into with a public company might limit the amount of dividends the firm can pay its shareholders.

Limitations On Home Color. Rent And Lease Restrictions. Restrictions On Business Usage. Limitations On Permissible Pets. Requirements For Exterior Maintenance. Restrictions On Exterior Constructions.

If a neighbour threatens to breach a restrictive covenant binding on them you will probably want to obtain an injunction to prevent breach rather than simply claim monetary compensation.Generally only the owner of land which was, or was part of, the land intended to be benefited by the covenant, can enforce it.

Express release: It may be possible to negotiate the release or variation of a restrictive covenant. Indemnity insurance: It is possible to obtain indemnity insurance to protect against the risk of a person with the benefit of a restrictive covenant seeking to enforce it.

Although the terms servitude and easement are sometimes used as synonyms, the two concepts differ. A servitude relates to the servient estate or the burdened land, whereas an EASEMENT refers to the dominant estate, which is the land benefited by the right.

In other words, you may be able to remove your restrictive covenant- but there are no guarantees.If you can agree to have the covenant removed, a 'Deed of Release of Restrictive Covenant' should be drawn up and signed by the dominant and servient owners.

If the value or use of certain land is negatively impacted by a restrictive covenant, there are options to have the covenant removed by legal process, which include: Obtaining a written release or modification of the covenant from the party or parties who are entitled to enforce it.

The effect of an easement An easement will likely affect any proposed development on a property. Generally, you cannot build over or too close to an easement or, you must obtain approval from the authority with the benefit of the easement to do so.

Oregon Easement, Covenant and Servitude

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What is an example of a restrictive covenant?

What are some examples of restrictive covenants?

Can a Neighbour enforce a restrictive covenant?

How do you challenge a restrictive covenant?

What is the difference between a servitude and an easement?

Can you remove restrictive covenants?

How do you fight a restrictive covenant?

What impact could an easement or covenant have on a property?

How do you challenge a covenant?

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