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In real estate, a restrictive covenant is a rule or condition placed on a property that outlines what homeowners can and cannot do with their land. These covenants are legally binding and often ...
In real property law, the term real covenants means that conditions are tied to the ownership or use of land. A "covenant running with the land", meeting tests of wording and circumstances laid down in precedent , imposes duties or restrictions upon the use of that land regardless of the owner.
A full coverage search is usually done when creating a title report for sale/resale transactions and for transaction that involves construction loans. It generally includes searches related to property lien, easements, covenants, conditions and restrictions(CC&Rs), agreements, resolutions and ordinances that will affect the real property in question.
Binder – In law, a binder (also known as an agreement for sale, earnest money contract, memorandum of sale, or contract to sell) is a short-form preliminary contract in which the purchaser agrees to buy and the seller agrees to sell certain real estate under stated terms and conditions, usually in the form of a purchase offer, and is ...
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
[1] [3] [4] [5] [8]: 1 Real estate developer Duncan McDuffie was one of the early proponents of single-family zoning in this neighborhood of Berkeley to prevent a dance hall owned by a Black resident from moving into houses he was trying to sell. He worried that families of color moving into the neighborhood would decrease the desirability of ...
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
In advocating support for a federal constitutional amendment guaranteeing the legal enforcement of racially restrictive covenants, the California Real Estate Association publication stated that "millions of home owners of the Caucasian race have constructed or acquired homes in areas restricted against occupancy by Negroes.