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What Is A Restrictive Covenant? (PT5)

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.

Need more information? Get all the details in our free eBook, How to Buy an Apartment or Condo in Jamaica.

 

Need help finding your new home or office? Give us a call at +18765139222 or email me at cherine@mypowerliving.com

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