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
Federal agency that monitors the federal savings an loan associations and federally insured state-charted S&Ls. It acts as a central bank. ...
Room in a home where the occupants spend their leisure time. ...
Where property is sold to the highest bidder. ...
Sometimes, a perplexing legal term (a genuine headscratcher) emerges when buying or selling a property. You know you should know it, but its precise definition escapes you. Today's special ...
In urban areas, one way to organize urban development is to keep track of building density. The building density definition is a way to determine the concentration of buildings in a given ...
Substituting one party for another in an action giving that party full rights or claims. Foe example, an insurance company pays the insured for a fire loss caused to the home by a third ...
A written agreement between institutional investors to buy or sell ownership shares in mortgages. An institution such as a bank can agree to buy a certain number of shares in a single or ...
As a hopeful house hunter, renter, or seasoned real estate investor, you've probably come across baffling terms. One such term is "adhesion contract." It might sound complex, but don't ...
Self-employed contractor who may perform work on a structure such as residential or commercial property. ...
Have a question or comment?
We're here to help.