Covenant

The full definition

A recorded promise or restriction that runs with the land and binds future owners. Restrictive covenants limit what the property may be used for or how it may be built on.

Which related terms should you know?

These are the terms that come up alongside covenant in the same file.

Easement

A right to use part of another owner's property for a specific purpose. Easements appear as exceptions on a title report and generally survive a sale of the land.

Title exception

A matter the title policy does not insure against, listed on Schedule B. Some exceptions are removed before closing and others are simply accepted by the buyer.

Encumbrance

Any interest in the property held by someone other than the owner, whether monetary such as a mortgage or lien, or non-monetary such as an easement or a covenant.

Appurtenance

A right or improvement that passes with the property when title transfers, such as an easement benefiting the parcel, a parking right or a fixture attached to the building.

Right of way

An easement granting passage across land. Recorded rights of way run with the property and are listed among the exceptions on a title report.

Zoning lot certificate

A recorded declaration combining tax lots into one zoning lot for development purposes. Waivers and consents from affected owners and lienholders accompany it.

What else should you read before closing?