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  Covenants and conditions

 

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Covenants and conditions NevadaCovenants and conditions are parameters set for the property owner to maintain the property as per certain guidelines. To exercise this, usually a covenants and conditions restriction agreement is usually included in the deed to a property. This agreement restricts the manner in which a particular property can be used. For example, a deed for a residential property may contain a covenant that the owner won’t permit “noxious uses” on the property, or any of a lengthy list of particular offenses such as stables, factories and so forth. To use this, the developer may record a document called the covenants and conditions restrictions to control the nature and character of a property development for the benefit of future owners.

Parameters that may be set

 

This often includes aesthetic guidelines as to how high the fences may be built, the colors that may be used to paint the house and the height to which it may be extended. If it is the deed for a residential or school property, it may also not permit noxious uses on the property. Stables, factories and industries will not be permitted as per these guidelines under the agreement.

Covenants

 

Covenants are a written agreement or promise of two or more parties. As per this, either party pledges to perform or not to perform specified acts on a property. It also specifies certain uses or non-uses of the property. The breach of these promises contained in contracts, would entitle a person to damages. This includes the environmental covenant that relies on the common law base but recreates it for the specific purpose of controlling the use of contaminated real estate. Covenants running with the land include covenants that become part of the property and benefit or bind successive owners of the property.

Conditions

 

Conditions on the other hand, are contingencies, qualifications or occurrences upon which the right exercised over an estate or property can be gained or lost. Developers may record a document called “covenants and conditions and restrictions” (CC&R;’s) to exercise this.

 

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