What is a covenant?

A covenant is a legal agreement that binds two parties to the terms of the agreement. It can be used in a variety of areas such as real estate, business, and contracts. In the state of Virginia, a covenant is recognized as a form of contract, and it must be publicly recorded to be enforceable. Covenants are typically used in property law to help keep properties safe by outlining the responsibilities of the parties, their rights, and how they must act. For example, if a homeowner creates a covenant stating that their neighbor must mow their lawn regularly, and the neighbor fails to do so, the homeowner may have grounds to take action against the neighbor. In Virginia, covenants are generally recorded in the circuit court of the county where the property is located. The covenant must clearly state its purpose and define the rights of the parties entering into the agreement. It should also specify what will happen if one of the parties does not adhere to the agreement. These requirements help to ensure that both parties understand their obligations and that the terms of the agreement are legally binding.

Related FAQs

What is a deed of gift?
What is the “lost document rule”?
What is an easement in gross?
What is zoning?
What are real estate taxes?
What is a deed of trust?
What is a lease?
What is the Statute of Limitations for filing a property lawsuit?
What is an easement?
What is a tenancy in common?

Related Blog Posts

What You Need to Know About Property Law - July 31, 2023
Property 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