Real Covenant Essay Flashcards
Define real covenant
A real covenet is a promise concerning the use of land that benfits and burdens the oringal parties and successros AND was created with a transfer in an interest in the propoerty subject to the promise.
What does a real convenet require? SOF+3?
Must be in writing subject to the SOF and requires 3 elements: touch and concern, intent, privity.
Define touch & concern
Touch and conern is satisfied if the restriction impacts the owner use and enjoyment
Define intent
Intent is satisfied with the orignal parties intend for their succesors to be bound to the burden and benefit of the promise to the parcel at issue.
What 2 elemetns are satisfied simultaneousl?
Touch and concern
Intent
What are the two types of privity
Privity is divied into horizontal and vertical privity
Define horitzontal privity
Horizontal privity exists if, at the time the original covenant was created, it was created with the conveyance of an interest in the property subject to the promise.
Define Vertical Privity
vertical privity exists when the successor in interest has received an interest in their predecessor’s estate.
If a RC cannot be satified, how will the courts construe it?
It may be enforceable as an equitable servitude.
Define equitable servitude
An equitable servitude is a promise concerning the use of land that benefits and burdens the original parties to the promise and their successors
What are the 3 things a ES must include?
touch and concern
intent
notice
How is notice satisfied?
Notice is satisfied if the party subject to the restriction has some knowledge of the restriction. and it can be actual or constructive.
How does actual notice exists?
If the person actually knew of the restriction
How does constructive notice exists?
If the restriction exists somewhere in the chain of title.
