Real Estate Covenants Law and Legal Definition
A covenant is a promise in a written contract or a deed of real property. There are different types of covenants, such as a covenant of warranty, which is a promise to guarantee the title to the property is free of any claims against it, a promise agreeing to joint use of an easement for access to real property, or a covenant not to compete for a certain period of time, which is commonly made by a seller of a business . Mutual covenants among members of a homeowners association are promises to respect the rules of conduct or restrictions on use of property, which govern peaceful use, limitations on intrusive construction, etc., and 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 owners 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).