South Carolina Declaration of Easements, Covenants and Restrictions
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FAQ
While an easement provides a right to use someone else's land, a restrictive covenant places limits on how an owner can use his or her own property. This is an example of a restrictive covenant.
Commonly, CC&Rs have a declared term of existence, after which they expire naturally. The positive side of having covenants with fixed terms of life is that subsequent property owners are not burdened with restrictions that have become arcane, dated, or no longer desirable.
Restrictions on the land are called 'covenants' or 'easements' and can be placed to ensure that it is not used in certain ways or that buildings conform to certain requirements.An easement is the legal term for a right, which someone other than the owner, has over the use of the land for a specific purpose.
The Declaration of CC&Rs is the legal document that lays out the guidelines for the planned community. The CC&Rs are usually recorded in the land records in the county where the property is located and are legally binding.
An easement is a nonpossessory right in the land of another.An equitable servitude can be specifically enforced by ordering action to be taken and the promise kept; breach of a real covenant would only result in monetary damages.
Easements are generally affirmative in nature- thus, they confer the right to use the servient land in some specific manner. Covenants. Covenants are written agreements in which the grantor promises to take or not take a certain action with respect to the land.Other covenants expire when the property is transferred.
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.
Restrictions on the land are called 'covenants' or 'easements' and can be placed to ensure that it is not used in certain ways or that buildings conform to certain requirements.An easement is the legal term for a right, which someone other than the owner, has over the use of the land for a specific purpose.
Protective covenant. A part of an indenture or loan agreement that limits certain actions a company may take during the term of the loan to protect the lender's interests.