Restrictive Covenants: What Are They And Why Should You Care? – Real Estate and Construction

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Restrictive covenants have a significant and substantial
impact on the use and value of property; yet they are often ignored
entirely or not considered until the end of the due diligence
period before purchasing the property.

Whether you are purchasing property for residential use or for
commercial use, it is important to know, first, what restrictions
and obligations are tied to the land you are about to purchase, and
second, the consequences to you if you don’t, or can’t,
comply with those restrictions and obligations.

Newspapers and online publications frequently feature articles
and editorials regarding restrictive covenants and the owners
associations that enforce those covenants.  Lawmakers have,
and will likely continue to, attempt to pass legislation to reign
in the powers of owners associations.  Yet purchasers of
property still do not seem to place enough importance on the impact
restrictive covenants and the persons who…

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