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A covenant is an agreement like a contract. A covenantor makes a promise to a covenantee to perform an action (affirmative covenant in the United States or positive covenant in England and Wales) or to refrain from an action (negative covenant). In real property law, the term real covenants means that conditions are tied to the ownership or use ...
The concept of acceleration most often arises within the context of contract law. An acceleration clause , also known as an acceleration covenant , may be included within a contract, so as to fully mature the performance due from a party upon a breach of the contract, such as by requiring payment in full upon the contract if a borrower ...
A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
In a typical transaction for the sale of real estate encumbered by a private transfer fee assessment, a contract for purchase of the real property is receipted at the title company. The title company then provides the prospective purchaser with a title commitment showing all encumbrances of record, including the transfer fee assessment.
The language of real estate contracts is typically written to protect buyers. And in many cases, a home seller who reneges on a purchase contract can be sued for breach of contract. A judge could ...
A loan covenant is a condition in a commercial loan or bond issue that requires the borrower to fulfill certain conditions or which forbids the borrower from undertaking certain actions, or which possibly restricts certain activities to circumstances when other conditions are met.
A developer is suing dozens of homeowners in east Raleigh’s Woodcrest subdivision over their restrictive covenants. What to know.
Covenant of quiet enjoyment: "The covenant of warranty is an assurance or guarantee of title, or an agreement or assurance by the grantor of an estate that the grantee and their heirs and assigns will enjoy it without interruption by virtue of a paramount title and that they will not, by force of a paramount title, be evicted from the land or ...
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