Real estate covenant

Real estate covenant. This term finds application in the area of Law of Contracts. In its regular usage it refers to a written promise that the property they transfer to the new owner is free of any legal burdens. Examples of such burdens are possession or ownership claims, rental obligations towards third parties, etc. Usually, the real estate covenant exists as a concrete declaration in a private purchase contract. It is usually in favor of the buyer or the beneficiary. So role of this declaration is to guarantee to the buyer that their rights will be protected if there are legal problems with the property. And the seller obviously knew these but didn’t inform the buyer about it.

See also “Joint covenant”

Real Estate covenant

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