Covenant: A written agreement between two or more parties in which a party or parties pledge to perform or not perform specified acts with regard to property, usually found in such real estate documents as deeds, mortgages, leases and contracts for deed.

 

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Covenant: An agreement or promise to do or not to do a particular thing; to enter into a formal agreement; a promise incidental to a deed or contract. The following are functional objectives guiding m . . . View Full Definition

Covenant Of Quiet Enjoyment: The covenant implied by law by which a landlord guarantees that a tenant may take possession of leased premises and that the landlord will not interfere in the tenants possession or use of t . . . View Full Definition

Covenant Of Warranty Forever: The grantor promises to compensate the grantee for the loss sustained if the title fails at any time in the future. These covenants in a general warranty deed are not limited to matters that . . . View Full Definition

Covenant Against Encumbrances: The grantor warrants that the property is free from liens or encumbrances, except for any specifically stated in the deed. Encumbrances generally include mortgages, mechanics liens and easem . . . View Full Definition

Affirmative Covenant: A bond covenant that specifies certain actions the firm must take.

Covenants: A statistical measure of the degree to which random variables move together. A positive covariance implies that one variable is above (below) its mean value when the other variable is above . . . View Full Definition

Positive Covenant (Of A Bond): A bond covenant that specifies certain actions the firm must take. Also called an affirmative covenant.

Bond Covenant: A contractual provision in a bond indenture. A positive covenant requires certain actions, and a negative covenant limits certain actions.

Negative Covenant: A bond covenant that limits or prohibits certain actions unless the bondholders agree.

Covenant Of Seisin: The grantor warrants that he or she owns the property and has the right to convey title to it (seisen simply means possession).