Uncategorized September 25, 2013

Covenants, Conditions & Restrictions

Covenants, Conditions and Restrictions, known as CC&R's, may affect any property we might be requested to search.  A covenant is a solemn promise to engage in or refrain from a specific action.  It is also a type of contract in which the covenantor makes a promise to a coventee to do or not do some action.  A covenant "running with the land" imposes duties or restrictions upon the use of the land regardless of the owner.

The whole idea of the CC&R's is to keep the neighborhood to an appealing level, to maintain, enhance the value of real estate, and to control some actions that take place within it's boundaries.

The typical covenant nearly always stipulates the minimum and or maximum size of structures allowed, how many homes can be built on one lot, height of any structures and the type of construction of the home.  Other typical restrictions may include easements (utilities, pathways and roadways), rules about tree cutting, height of trees, pets and other animals, set back requirements, in-home business and home rental, types of fencing, choice or limitation of paint color and type of siding for the home.  Other popular restrictions included prohibiting owners from storing inoperable vehicles, parking trailers, boats and other recreational vehicles.

Covenants are normally drafted and put into place by the original developer.  Many are specific depending on the type of property.  It is important to point out that restrictive covenants can become so restrictive that it could have a negative impact on value as it may limit the marketability of the plat.  Covenants are to be enforced by the homeowners and if they fail to enforce them, they may become unenforceable. CC&R's have their benefits and the benefits far outweigh the disadvantages or challenges that might be presented in the future.  There is much to be said for an owner's expectation that the neighborhood is to be maintained and values enhanced by these covenants and the quiet, peaceful enjoyment of their property and investment.

Please let us know if you have any questions on this information or if there is anything else we can do for you.

Steve Hill and Sandra Brenner
Windermere Real Estate
call/text 206-769-9577