Covenant - Main |
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A covenant, in its most general sense, is a solemn promise to engage in or refrain
from a specified action.More specifically, a covenant, in contrast to a contract, is a one-way agreement whereby the covenanter is the only party bound by the promise. A covenant may have conditions and prerequisites that qualify the undertaking, including the actions of second or third parties, but there is no inherent agreement by such other parties to fulfill those requirements. Consequentially, the only party that can break a covenant is the covenanter. In contemporary practice in the United States, a covenant typically refers to restrictions set on contracts like deeds of sale. "Covenants, Conditions, and Restrictions," commonly abbreviated "CCRs", are a complicated system of covenants, known generically as "deed restrictions," built into the deeds of all the lots in a common interest development, particularly in the tens of millions of American homes governed by a homeowner association (HOA) or condominium association. There are some office or industrial parks subject to CCRs as well. These CCRs might, for example, dictate building materials (including roofing materials), prohibit certain varieties of trees, or place restrictions on the number of dwellings that may be built on the property. The purpose of this is to maintain a neighborhood character or prevent improper use of the land. Many covenants of this nature were imposed in the 1920s through the 1940s, before zoning became widespread. However, many modern developments are also restricted by covenants on property titles; this is often justified as a means of preserving the values of the houses in the developments. Covenant restrictions can be removed through court action, although this process is lengthy and often very expensive. In some cases it even involves local plebiscites of the nearby property owners. Although control of such planning issues is often governed by local planning schemes or other regulatory frameworks rather than through the use of covenants, there are still many covenants imposed, particularly in states that limit the level of control over real property use that may be exercised by local governments. |
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