What is a restrictive covenant?

A restrictive covenant is a type of real estate law that applies to the purchase and sale of property in Arkansas. It basically states that certain uses of the land are prohibited by the buyer, seller, or both. For example, a restrictive covenant may stipulate that the buyer cannot allow their land to be used for industrial, agricultural, or mining purposes. Restrictive covenants are usually found in the deed or title of a property. These covenants are legally binding, meaning they must be followed. If either the buyer or seller violates the covenant, the other party can take legal action, such as filing a lawsuit or seeking an injunction. Restrictive covenants are very important for protecting the rights of property owners in Arkansas. They ensure that the land is used for its intended purpose and that the buyer or seller cannot make unauthorized changes to the property. These covenants also help maintain the value of the land by limiting certain types of activities and protecting the environment.

Related FAQs

What is an environmental impact statement?
How do I obtain a deed of trust?
What types of insurance do I need for real estate transactions?
What is a real estate closing?
What remedies are available to me if I am a victim of real estate fraud?
What is an adverse possession claim?
What is a landlord’s lien?
What are the laws governing the leasing of real estate?
What are the disclosure requirements when renting out a vacation home?
What is reasonable wear and tear?

What is a restrictive covenant?

Related FAQs

Related Blog Posts