Covenant

A clauseThis identifies a specific part of a policy or endorsement. in a mortgageIncludes all forms of debt for which real property, that is, land and/or buildings, is given as security. that obligates or restricts the borrowerPerson responsible for repaying a loan who has signed and agreed to the terms in the promissory note. and that, if violated, can result in foreclosureThe legal process used to force the payment of debt secured by collateral whereby the property is sold.

Covenant

A written agreementAn exchange of promises, a mutual understanding or arrangement; a contract. between two or more partiesThose entities taking part in a transaction as a principal, e.g., seller, buyer, or lender in a real estate transaction..

Covenant

A written agreementAn exchange of promises, a mutual understanding or arrangement; a contract. in a deedWritten instrument which when properly executed and delivered conveys title to real property from one which pledges that either party will perform or abstain from specified acts on a certain propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself., or which specifies or forbids certain uses of the property.

Covenant

An agreementAn exchange of promises, a mutual understanding or arrangement; a contract. or promise to do or not to do a particular act such as a promise to build a house of a particular architectural styleGenerally the appearance and character of a building's design and construction. or to use or not use propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. in a certain way.