Does your apartment title have a restrictive covenant? Better yet what is a restrictive covenant?
Okay let me simplify, a covenant is like a promise to do or not to do something.
Now in real estate, a restrictive covenant is a clause on the property title that limits what the owner of the land can do with the property.
For example, a restrictive covenant may prevent you from building your boundary walls above 4 feet but you decided to take it to 8 feet as a security, you would be breaching that covenant. Or lets say you have an apartment and you wanted to turn it into a school or church, you could also potentially be breaching the covenant and this could be a 300 thousand dollars problem.
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