Browse:  A B C D E F G H I J K L M N O P Q R S T U V W Y Z
     
Enter a Legal Term

Search the Definitions

covenant

1) n. a promise in a written contract or a deed of real property. The term is used only for certain types of promises such as a covenant of warranty, which is a promise to guarantee the title (clear ownership) to property, a promise agreeing to joint use of an easement for access to real property, or a covenant not to compete, which is commonly included in promises made by a seller of a business for a certain period of time. Mutual covenants among members of a homeowners association are promises to respect the rules of conduct or restrictions on use of property to insure peaceful use, limitations on intrusive construction, etc., which are usually part of the recorded covenants, conditions and restrictions which govern a development or condominium project. Covenants which run with the land, such as permanent easement of access or restrictions on use, are binding on future title holders of the property. Covenants can be concurrent (mutual promises to be performed at the same time), dependent (one promise need be performed if the other party performs his/hers), or independent (a promise to be honored without reference to any other promise). Until 1949 many deeds contained restrictive covenants which limited transfer of the property to the Caucasian race. These blatantly racist covenants were then declared unconstitutional. 2) v. to promise.

See also: contract  covenant not to compete  deed  restrictive covenant 

From the Law.com Newswire



The People's Law Dictionary by Gerald and Kathleen Hill Publisher Fine Communications

FEATURED FIRMS

The Law Firm Of Jonathan C. Reiter
350 5th Ave
New York, NY 10118
212-736-0979
Ronaldson & Kuchler
205 W Upper Wacker Dr #1615
Chicago, IL 60606
312- 425-2600
O'Malley & Langan PC
201 Franklin Ave
Scranton, PA 18503
570-344-2667
omalleylangan.com
Coplan & Crane
70 W Madison St, Suite 1400
Chicago, IL 60602
800-394-6002

Presented By Big Voodoo