Real Estate Glossary

The following are some common real estate terms you may run across during the process of buying or selling your home.

Restrictive covenants

Private restrictions limiting the use of real property. are created by deed and may "run with the land," binding all subsequent purchasers of the land, or may be "personal" and binding only betwee n the original seller and buyer. The determination whether a covenant runs with the land or is personal is governed by the language of the covenant, the intent of the parties, and the law in the State where the land is situated. Restrictive covenants that run with the land are encumbrances and may affect the value and marketability of title. Restrictive covenants may limit the density of buildings per acre, regulate size, style or price range of buildings to be erected, or prevent particular businesses from operating.

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