Restrictive covenant UK Property definition

UK Property definition

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Restrictive covenant

A condition applying to land which specifies what the owner cannot do. A Restrictive covenant usually arises from agreements between an earlier vendor and purchaser An example is a prohibition from carrying out a business on the land, or perhaps from keeping livestock.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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