Restrictive Covenants in Residential Transactions
Restrictive covenants are one of the most challenging aspects of residential conveyancing, as they dictate what owners can or cannot do with their land.
According to Ian Quayle, Managing Director of IQ Legal Training, and Rosella Lanza, Content Analyst at InfoTrack, restrictive covenants are
contractual obligations that limit land use, which can bind successors in title.
A recent webinar, now available to watch on demand, explored the complexities of restrictive covenants and offered practical guidance for solicitors on how to identify, advise on, and manage these issues within residential transactions.
Key Points
- Restrictive covenants are binding promises that limit land use.
- They often surface during title investigations.
- These covenants can bind successors in title, even if they were originally agreed between different parties.
Author's summary: Restrictive covenants pose challenges in residential conveyancing due to their binding nature.