11:20
I am not a llama, and I am an adcommie @ The University of American Samoa Law (go LandCrabies)
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LSDefine
Simple English definitions for legal terms
restrictive covenant in equity
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A quick definition of restrictive covenant in equity:
A restrictive covenant in equity is a promise made in a contract that limits how a person can use their property. It can be in a deed or lease and may specify things like lot sizes, building lines, and what the property can be used for. Some restrictive covenants, like those based on race, are not enforceable. A covenant can also be a promise to do something, like maintain a fence or not compete with a business.A more thorough explanation:
A restrictive covenant in equity is a private agreement, usually found in a deed or lease, that limits the use or occupancy of real property. It can specify things like lot sizes, building lines, architectural styles, and the uses to which the property may be put. Some restrictive covenants, such as race-based restrictions on transfers, are unenforceable but do not necessarily void the deed. This type of covenant is also known as an equitable easement or equitable servitude.
For example, a developer may include a restrictive covenant in the deed for a new housing development that prohibits homeowners from painting their houses bright colors or parking commercial vehicles in their driveways. These restrictions are meant to maintain a certain aesthetic and preserve property values in the neighborhood.