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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 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.
Shelley v. Kraemer, 334 U.S. 1 (1948), is a landmark [1] United States Supreme Court case that held that racially restrictive housing covenants cannot legally be enforced.. The case arose after an African-American family purchased a house in St. Louis that was subject to a restrictive covenant preventing "people of the Negro or Mongolian Race" from occupying the property.
A number of private transfer fee covenant laws require the seller to disclose the existence of the transfer fee and, failing to do so, the buyer can recover the difference between the market value of the real property subject to the private transfer fee obligation and the market value of the real property if the real property were not subject ...
Under the statute of uses, modern real property law disregards this subtle distinction. [ citation needed ] A bargain and sale deed is especially used by local governments, fiduciaries such as executors , and in foreclosure sales by sheriffs and referees .
Lord Templeman held that the covenant could not be enforced because the covenant was positive. His judgment said the following. [1]Equity cannot compel an owner to comply with a positive covenant entered into by his predecessors without flatly contradicting the common law rule that a person cannot be made liable upon a contract unless he was a party to it.
As of 2014, the Restatement's failure to address basic doctrines like adverse possession and real estate transfers had never been corrected over 75 years, three Restatements series, and 17 volumes. [2] In the 1970s, the Uniform Law Commission's project to standardize state real property law was a spectacular failure. [3] [4] [5]
A restraint on alienation, in the law of real property, is a clause used in the conveyance of real property that seeks to prohibit the recipient from selling or otherwise transferring their interest in the property. Under the common law such restraints are void as against the public policy of