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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 ...
(1) A statement that the instrument is an environmental covenant executed pursuant to the [state's name] Uniform Environmental Covenant Act [and statutory reference] (2) A legally sufficient description of the real property subject to the covenant (3) A description of the activity and use limitations on the real property
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.
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 ...
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 ...
An action to enforce townhome covenants is, in fact, a legal or equitable action on a contract or written instrument—and so any enforcement action must be brought within five years.
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 most jurisdictions, the real property interest created by the contract will pass to the buyer's heirs, while the seller's personal property interest created by the contract will pass to the seller's estate. The State of New York does not recognize equitable conversion. In New York, as long as the buyer is without fault, the risk of loss ...