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"Covenant" is a fancy word that means a promise or agreement between two parties. In real estate, it often refers to promises that the owner of a property makes to a buyer or to the community where the property is located. For example, a covenant might require that the property owner keeps the yard well-maintained or that certain colors can't be used to paint the house.
A working example of a covenant might be a homeowner's association requiring all members to maintain a certain level of landscaping or architectural style in their homes.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
Covenant, oh covenant, a promise so grand
Between two parties, they shake on their hand
It's often seen in real estate deals
Where buyers and sellers must make appeals
To keep the yard looking nice and neat
Or to paint the house a certain shade, complete
These promises are written down, you see
And must be followed by both you and me