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
Expected period that property will provide benefits. It is typically less than physical life of the property because the property continues to have physical life regardless of inefficiency ...
When you hear someone in real estate saying there will be a boring test, they don't mean a dull exam is coming up. What is a soil boring test? Let's find out the meaning of a boring test! ...
An individual or business that buys someone else's equity in property but may not assume any responsibility for a loan balance. ...
Any permanent development that has been made to a parcel of land. Improved land features include whether the land has fruit bearing trees or crops producer by labor, landscaping, or ...
Drilled well where water rises through the opening because of naturally occurring water pressure. ...
Measure of the annualized compound growth of a real estate investment. ...
The individual who receives an interest in a life estate after the original life tenant's interest expires. This normally occurs after the death of the life tenant. For example, Mrs. ...
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Roof having less than a 10 degree slant. ...
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