What is an implied covenant?
An implied covenant is a real estate law concept that applies to the transfer of real estate. It is an assumed contractual agreement that is not expressed in writing, but must be followed nonetheless. In Kansas, an implied covenant is part of the deed of a property. It is an agreement between the buyer and seller that obligates the buyer to use the land for a particular purpose. For example, if the deed contains a statement that the land will be used for a single-family home, then the buyer is obligated to use the land for that purpose. Additionally, an implied covenant may contain a stipulation that the property will be kept in a certain condition or that it will not be used for any other purpose than the one specified in the deed. This covenant binds both the buyer and seller of the property, and it can be enforced in a court of law.
Related FAQs
What is a deed of trust?What is a deed of exchange?
What are the elements of a valid deed?
What is the rule against perpetuities?
What is a license agreement?
What is the Statute of Limitations for filing a property lawsuit?
What is an estoppel certificate?
What is an encumbrance?
What is zoning?
What is an encroachments clause?
Related Blog Posts
What You Need to Know About Property Law - July 31, 2023Property Law: What to Look Out For When Purchasing Real Estate - August 7, 2023
Understanding the Basics: A Guide to Property Law - August 14, 2023
Common Types of Property Law Cases - August 21, 2023
The Impact of Property Law on Real Estate Transactions - August 28, 2023