Covenants Running With The Land.
Definition of "Covenants running with the land."
Written agreement, guarantee, pledge, or promise annexed to the land between two or more parties to do or not to do something and is transferred to successive title holders. For example, in exchange for donating a parcel of land to the community, Jones adds a covenant running with the land that the property would forever be used only for educational purposes.
Popular Real Estate Terms
A mortgage provides the right to the bank to have a lien on the financed property with the borrower having title to the property. ...
tenancy having no written lease or contract. A periodic tenancy can be on a month-to-month or week-t-week basis. ...
Physical decline in a property's value caused from use, old age, and environmental factors. ...
The person giving property or establishing a trust. ...
Formal or legal description of property and its dimensions included in deeds, leases, listing agreements, rental agreements, and sales contracts. ...
Discounted value of net cash receipts to be obtained from a property. The present value calculation includes consideration of annual cash inflows plus the disposal value. ...
The definition of a will is an individual's written statement of how he or she wants their property to be distributed upon death. There must be witnesses for the will to be enforceable. ...
The term market segmentation is mostly used in marketing for assembling prospective buyers in groups based on their needs and their response to a marketing action. One definition of market ...
Real property usable in a trade or business. Such as, the property on a which retail store, hotel, or office building are located. ...
Have a question or comment?
We're here to help.