Running With The Land

DEFINITION of 'Running With The Land'

The rights and covenants in a real estate deed that remain with the land, regardless of ownership. When rights and covenants run with the land, they are tied to the property (land) and not to the owner, and will move from deed to deed as the land is transferred from one owner to another.

BREAKING DOWN 'Running With The Land'

There are two types of covenants that are said to run with the land. An affirmative covenant states something that property owners are obligated to do. A restrictive covenant specifies something that property owners must refrain from doing. Owners are said to be "burdened" by affirmative covenants and must "enforce" restrictive covenants. An example of an affirmative covenant that would run with the land is that all homes must be at least a specified square footage. An example of a restrictive covenant that would run with the land might be that no livestock are permitted on the property. Covenants that run with the land are intended to guide orderly land development.

RELATED TERMS
  1. Affirmative Covenant

    A type of promise or contract which requires a party to do something. ...
  2. Restrictive Covenant

    Any type of agreement that requires the buyer to either take ...
  3. Deed

    A legal document that grants the bearer a right or privilege, ...
  4. Covenant

    A promise in an indenture, or any other formal debt agreement, ...
  5. Conveyance

    The act of transferring an ownership interest in real property ...
  6. Novation

    1.The act of replacing one participating member of a contract ...
Related Articles
  1. Insurance

    10 Hurdles To Closing On A New Home

    It's the biggest purchase of your life - find out what can go wrong before you even close the deal.
  2. Home & Auto

    12 Steps To Closing A Real Estate Deal

    A long list of things needs to happen before a home becomes yours. Find out what to expect.
  3. Home & Auto

    Top Tips For First-Time Home Buyers

    Follow this step-by-step guide to make your homeownership dreams a reality.
  4. Personal Finance

    How the Green Card Lottery Really Works

    Here's how the popular green card lottery, run by the U.S. State Department, operates, including some tips on improving your odds of winning.
  5. Taxes

    Why People Renounce Their U.S Citizenship

    This year, the highest number of Americans ever took the irrevocable step of giving up their citizenship. Here's why.
  6. Personal Finance

    What it Takes to Get a Green Card

    Grounds for getting a green card include having family members in the U.S., being a certain type of refugee or specialized worker, or winning a lottery.
  7. Career Education & Resources

    Laws & Regulations To Know Before Changing the Name of Your Business

    Discover some of the most important steps you need to take after making a decision to change your legally established business name.
  8. Personal Finance

    Passport Procrastinators: This Year, Renew Early!

    Millions of passports issued nearly 10 years ago when the Western Hemisphere Travel Initiative became law are expiring. Expect backlogs; leave extra time.
  9. Term

    Understanding Rule 144A

    Rule 144A is an SEC rule that changes the two-year holding period requirement on privately placed securities.
  10. Investing Basics

    Top 10 Features Of A Profitable Rental Property

    Owning rental property is a tough business. Here are 10 things you should consider before investing in an income property.
RELATED FAQS
  1. What is the Writ of Mandamus?

    A writ of mandamus is a court order issued by a judge at a petitioner’s request compelling someone to execute a duty he is ... Read Full Answer >>
  2. Are UTMA accounts escheatable?

    Like most financial assets held by institutions such as banks and investment firms, UTMA accounts can be escheated by state ... Read Full Answer >>
  3. How much money does Michigan make from unclaimed property each year?

    According to the 2013-2014 Annual Report of the State Treasurer, the state of Michigan earned only $82,875 in abandoned and ... Read Full Answer >>
  4. Can the IRS audit you after a refund?

    The U.S. Internal Revenue Service (IRS) can audit tax returns even after it has issued a tax refund to a taxpayer. According ... Read Full Answer >>
  5. How does escheatment impact a company?

    In recent years, state governments have become increasingly aggressive in enforcing escheatment laws. As a result, many businesses ... Read Full Answer >>
  6. What happens if property is wrongfully escheated?

    If your financial accounts, such as bank, investment or savings accounts, are declared dormant and the managing financial ... Read Full Answer >>
Hot Definitions
  1. Liquidation Margin

    Liquidation margin refers to the value of all of the equity positions in a margin account. If an investor or trader holds ...
  2. Black Swan

    An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult ...
  3. Inverted Yield Curve

    An interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the ...
  4. Socially Responsible Investment - SRI

    An investment that is considered socially responsible because of the nature of the business the company conducts. Common ...
  5. Presidential Election Cycle (Theory)

    A theory developed by Yale Hirsch that states that U.S. stock markets are weakest in the year following the election of a ...
Trading Center