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Can either the burdern or benfit of a covenant be passed in equity? if so how might this happen?

2007-11-22 04:48:50 · 5 answers · asked by Anonymous in Business & Finance Renting & Real Estate

5 answers

I guess you mean civil law; it's possible, depending how the covenant was drawn. It may be binding on the "heirs and assignees".

2007-11-22 05:03:54 · answer #1 · answered by champer 7 · 0 0

You bet! Covenants may be passed in both equity and law. That's why real estate lawyers search title. Client buyer/seller needs to know if there are any restrictions on the property that might affect value. In a Torrens system (http://en.wikipedia.org/wiki/Torrens_title), for example, these things are easily recorded on title to prevent surprises. Of course, some restrictions/covenants can be challenged. Depends on the restriction and the legislation governing the land parcel containing it.

2007-11-22 05:22:23 · answer #2 · answered by Anonymous · 0 0

dear confused, the ans is yes & no, yes it can be transferred in death or at the split of the relationship if so desired by will or drawn paperwork, and no, to the benefits in california if you expect to receive the real property without the increases of the taxes.
you must either have your relationship blessed by the courts as a legal marriage after commonlaw, or be married to benefit from the tax advantages of the exchange of deeds.
As to the burden, as in a lawsuit, it may not carryover unless you signed on with your friend in debt, but if there is an attachment that has clouted the real property, you will find it went with the property or you cannot remove it until paid.

2007-11-22 05:33:06 · answer #3 · answered by CW L 3 · 0 0

Yes. The othe issue is "legality" of the covenant: is the adherence to the covenant consistent with the character of the neighborhood?

2007-11-22 15:13:29 · answer #4 · answered by !!! 7 · 0 0

Common law DOES NOT apply to real estate transactions, in ANY state.

2007-11-22 07:02:13 · answer #5 · answered by Expert8675309 7 · 0 0

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