Glossary

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Covenant
A covenant is a promise that is part of the written agreement between a buyer and seller. There are different kinds of covenants; they can be made by the buyer or seller or may be something that is connected to the real property itself. For example, a seller will agree to a covenant of warranty and promise that the buyer will receive a title free of any claims. A buyer may enter a mutual covenant and promise to abide by the rules of a homeowners association. An example of a covenant that is tied to the land is a permanent easement. This easement might give usage of a driveway to an adjoining property, and it will pass to the new owners if the property is sold. A covenant may function concurrent with another covenant, dependent on another covenant or independent of any covenants or promises.