A property covenant is one of the many things to consider when buying a new home. If you are interested in a home that comes with covenants, there can be some downsides, and it is best to be fully informed before making a purchase. A developer can place a restrictive covenant on a piece of property. When one homeowner sells, the restrictive covenant is passed along to the next owner. For advice from Conveyancing Solicitors Cheltenham, go to Dee and Griffin
If you are planning to purchase a home, you should also make sure you get a legal opinion from a reputable solicitor. It is also a good idea to check out the title of your prospective property to find out if it has any restrictive covenants.
One of the more common types of covenants you may encounter is the restrictive covenant. These covenants restrict what can be done with the land. For example, a restrictive covenant might limit the number of people who can live in a house, the type of animals allowed, and the size of the building. In some cases, a restrictive covenant may prevent the construction of a particular type of building, such as an extension or a detached garage. Whether you choose to buy a property with a restrictive or a positive covenant, you will still be required to abide by the relevant rules.
Buying a property with a covenant is not for the faint of heart. Fortunately, a comprehensive guide to property covenants will help you understand what you are getting into. Whether you are a first-time buyer or considering a move to a new neighbourhood, a comprehensive guide to property covenants can provide you with the information you need. A thorough look into a property’s building restrictions will save you the headache of being surprised later on.
If you are thinking about buying a property in a planned community, you should be aware of what you can and can’t do. You also might want to seek independent legal advice. A qualified conveyancer can help you identify the limitations.
Common restrictions include not being allowed to build additional structures on the land and not making any changes or alterations to the use of the land or property. Often, restrictive covenants will also prohibit non domestic animals being kept on the land and the land or property being used for business purposes.