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Covenant in sales of contract

Discussion in 'Legal Issues' started by htopg, 10th Oct, 2015.

  1. htopg

    htopg Well-Known Member

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    I was bored so I looked at a contract of sales and found the following covenant (signed in year 1913):
    Does that mean the owners and future owners
    1. cannot build any building that costs less than 100 pounds
    1b. if a building that costs than 100 pounds is built, it must be fenced
    2. no advertisement boarding shall be erected
     
    Last edited: 10th Oct, 2015
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Yes.
     
  3. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Note that covenants can be removed if they are superceded by current planning laws. Needs specific legal advice by a property lawyer.
     
  4. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    Yes. These types of covenants are put on by developers to protect the value of the land estate, for themselves and the new owners, that they are selling. No low cost (for the time) housing materials etc.
     
  5. htopg

    htopg Well-Known Member

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    100 Pounds = $208.99 AUD
    When I build a cubby house, I will make sure it cost more than $208.99 AUD. Or I will be breaching the covenant. :)
     
    Terry_w likes this.
  6. htopg

    htopg Well-Known Member

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    The real estate agent just put an advertisement sign in front of that property!!