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There are five basic conditions that must be met in order for there to be an effective real covenant and equitable servitude: It must be enforceable . To be enforceable it must not be too vague, it must not violate a statute or the constitution , it must not violate public policy, and it must meet the requirements under the statute of frauds .
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.
Exclusion clauses and limitation clauses are terms in a contract which seek to restrict the rights of the parties to the contract. Traditionally, the district courts have sought to limit the operation of exclusion clauses. In addition to numerous common law rules limiting their operation, in England and Wales Consumer Contracts Regulations 1999.
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.
However, an assignment of a contract containing such a clause will be ineffective if the assignee knows of the non-assignment clause, or if the non-assignment clause specifies that "all assignments are void". Two other techniques to prevent the assignment of contracts are rescission clauses or clauses creating a condition subsequent. The former ...
options and pre-emption rights, i.e. to demand a right under specified conditions 'mere equities', rights to rescind a transaction if it is vitiated by mispresentation, undue influence and so on, under the Land Registration Act 2002 ss 115–116(b) home rights, i.e. to occupy a home by virtue of a family relationship under the Family Law Act ...
Article I, Section 10, Clause 1 of the United States Constitution, known as the Contract Clause, imposes certain prohibitions on the states.These prohibitions are meant to protect individuals from intrusion by state governments and to keep the states from intruding on the enumerated powers of the U.S. federal government.
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 ...