A Restrictive Covenant is a legal obligation imposed in the deeds on a buyer by the seller of a property to do or not to do something. Some restrictive covenants are very simple, and "run with the land" intending to protect a neighbourhood from property owners cutting down trees or damaging property values. Others dictate exactly what the owner can or cannot do to the exterior of the property such as painting it a different colour or dictating exactly when christmas decorations may be put up. Others relate to issues of parking e.g outside a garage. Restrictions are normally put in place by the original developer and give the development a more standard appearance, protecting property values.
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