answersLogoWhite

0

A covenant is a promise in a deed of real property. There are different types of covenants, such as a covenant of warranty, which is a promise to guarantee the title to the property is free of any claims against it, a promise agreeing to joint use of an easement for access to real property, or a covenant not to compete for a certain period of time, which is commonly made by a seller of a business .

Covenants which run with the land, such as permanent easement of access or restrictions on use, are binding on future owners of the property. Covenants can be concurrent (mutual promises to be performed at the same time), dependent (one promise need be performed if the other party performs his/hers), or independent (a promise to be honored without reference to any other promise).

User Avatar

Wiki User

13y ago

What else can I help you with?

Related Questions

What characteristics define the luxury real estate market?

There are many characteristics that define the luxury real estate market. Characters that define the luxury real estate market include great customer service and expensive rates.


Define wholesale real estate?

Whole sale real estate Most homes are purchased by individuals who go through a local real estate agent. A smaller percentage purchase a home that is offered for sale by the homeowner, without intervention of an agent.


What is the significance of a unilateral covenant in real estate contracts?

A unilateral covenant in real estate contracts is significant because it imposes obligations on only one party involved in the contract. This means that one party is legally bound to fulfill certain responsibilities, while the other party is not required to do anything. This type of covenant can provide clarity and protection for the party benefiting from the covenant, ensuring that specific terms are met without the need for reciprocal obligations from the other party.


How long does a land covenant last?

It depends on the nature of the covenant. It may last forever. If you have a question about a covenant in your deed you should contact the attorney who represented you at your time of purchase. If that's not possible you should consult with an attorney who specializes in real estate law.


What is cost of land use restrictive covenant?

You should contact several real estate law firms in your area, explain what you need and ask for a estimate of costs.


real estate?

real estate


What has the author Ernie Jowsey written?

Ernie Jowsey has written: 'Real estate economics' -- subject(s): Real estate development, Residential real estate, Commercial real estate, Real estate investment, Real estate business


Define a real estate fund?

Real estate funds are founded by a group of real estate, experts, professionals to manage real estate for the investor. The real estate investment trust is a public listed entity, which basically phases on at least 90% of it's profits trust. REITs typically own large commercial office, hotels, buildings and spaces mainly on rental incomes. Some real estate funds may not actually own property as that may involve above-average risk from volatility in property prices. Instead such funds invest in instruments/bonds that are secured by property. baja247.com


What is NIREM?

NIREM is the short form of IDS National Institute of Real Estate Management which is a management institute. It offers educational programs and courses in different areas of real estate such as real estate management, real estate marketing, real estate sales, real estate finance, real estate investment, real estate appraisal etc at the levels of PG Diploma and Diploma. It also offers certificate in real estate management. Apart from the above, NIREM also conducts management development programs in real estate. probably the first institute in India that offers real estate education.


What do you call someone who sells real estate?

A person who sells real estate is called a real estate agent or real estate agent. These professionals are licensed to facilitate the purchase and sale of real estate. Real estate agents play a critical role in the transaction process by helping clients navigate complex markets, negotiate deals, and ensure regulatory compliance. They often work for real estate agencies and earn commissions based on successful real estate transactions. Their expertise and knowledge of the local market make them valuable partners for individuals looking to buy or sell real estate.


Do you have to pass a real estate test in Virginia to sale realestate in Virginia?

If you want to deal with real estate business you must have real estate license. In order to get real estate license you need to pass a real estate exam in Virginia. You need to complete minimum 60 hours in the principles of real estate. You must have to pass the state & national portions of the real estate exams. You need to know all the fundamentals & real estate laws. After getting you real estate license you can join any commercial real estate firm or property management company to deal with commercial real estate property or residential real estate property. All the Best. www.flaglerdev.com


Where can one find Scottsdale Arizona real estate?

One can find Scottsdale, Arizona real estate from real estate agents in Arizona and online real estate agents with search capabilities. some real estate agents are Trulia, Realtor, Scottsdale Homes and Scottsdale Real Estate. Real estate can also be found in local and national newspapers.