What is a "covenant" in the context of property?

A covenant in the context of property refers to a legally binding promise found in a deed or lease. This promise typically stipulates certain actions that either the property owner or the tenant must perform, or it may restrict certain actions that could be taken concerning the property. Covenants are used to control how property is used and can cover a wide range of issues, including maintenance responsibilities, limitations on building structures, or the types of activities allowed on the property.

This definition highlights the role of covenants in property law, where they serve to protect the interests of one party and ensure compliance with agreed-upon terms within the property agreement. Because this promise is enforceable by law, it creates obligations that can have significant implications for property owners and tenants. Understanding the concept of covenants is essential for real estate professionals, as they can affect property values and the rights of individuals involved in property transactions.