What are the different types of real estate covenants?

To regulate the use as well as development of a property various types of real estate covenants may be created. Here are some common types: Restrictive Use Covenants: The use of such covenants is restricted related to the property.

What are real estate covenants?

Real estate covenants are legal obligations or agreements imposing some limitations or requirements on the uses and development of properties within a locality. These covenants are typically established by a developer, homeowner’s association, or previous property owners and are included in the property’s deed or a separate agreement.

What is a covenant in a property deed?

In the context of residential neighborhoods, covenants are a set of rules. They govern how real property is used. Covenants also refer to promises or other governing clauses in deeds . For example, different types of covenants are recorded on a property deed: Restrictive covenants (negative covenants) place conditions on the use of land.