In a deed, a grantee may agree to do something or refrain from doing certain acts. This agreement will become a binding contract between the grantor and the grantee. An example would be an agreement to maintain fences on the property or that the property will only be used for residential purposes. This kind of covenant is binding, not only between the grantor and the grantee, but also runs with the land. This means that anyone acquiring the land from the grantee is also bound by the covenant of the grantee. A covenant that provides that the grantee will refrain from certain conduct is called a restrictive or protective covenant. For example, there may be a covenant that no mobile home shall be placed on the property.
A restrictive or protective covenant may limit the kind of structure that can be placed on the property and may also restrict the use that can be made of the land. For example, when a tract of land is developed for individual lots and homes to be built, it is common to use the same restrictive covenants in all of the deeds in order to cause uniform restrictions and patterns on the property. For example, the developer may provide that no home may be built under a certain number of square feet. Any person acquiring a lot within the tract will be bound by the restrictions if they are placed in the deed or a prior recorded deed. Also, these restrictive covenants may be placed in a document at the outset of the development entitled "Restrictive Covenants," and list all the restrictive covenants that will apply to the tracts of land being developed. Any subsequent deed can then refer back to the book and page number where these restrictive covenants are recorded. Any person owning one of the lots in the tract may bring suit against another lot owner to enforce the restrictive covenants. However, restrictive covenants may be abandoned or not enforceable by estoppel if the restrictive covenants are violated openly for a sufficient period of time in order for a Court to declare that the restriction has been abandoned.
Alaska Agreement Creating Restrictive Covenants
Instant download
Description
Free preview
How to fill out Agreement Creating Restrictive Covenants?
US Legal Forms - one of the largest collections of legal documents in the United States - offers a wide variety of legal document templates that you can download or print.
By using the website, you can find thousands of forms for business and personal purposes, organized by categories, states, or keywords. You can access the latest versions of forms such as the Alaska Agreement Crafting Restrictive Covenants in moments.
If you have a membership, Log In to download the Alaska Agreement Crafting Restrictive Covenants from the US Legal Forms collection. The Download button will appear on every form you view. You have access to all previously saved forms in the My documents section of your account.
Proceed with the transaction. Use your credit card or PayPal account to complete the purchase.
Choose the format and download the form to your device. Edit. Complete, modify, print, and sign the saved Alaska Agreement Crafting Restrictive Covenants. Each template you add to your account has no expiration date and is yours indefinitely. Therefore, if you want to download or print another copy, simply head to the My documents section and click on the form you need. Access the Alaska Agreement Crafting Restrictive Covenants with US Legal Forms, the most extensive library of legal document templates. Utilize thousands of professional and state-specific templates that fulfill your business or personal needs and requirements.
- Make sure to select the correct form for your locality/county.
- Click the Review button to examine the document's content.
- Check the form description to ensure you have chosen the right document.
- If the form does not meet your needs, use the Search field at the top of the page to find the one that does.
- If you are satisfied with the form, confirm your choice by clicking the Purchase now button.
- Then, select the pricing plan you wish to use and provide your credentials to sign up for an account.
Form popularity
FAQ
Non-compete clauses and restrictive covenants are highly enforceable in the UK in order to protect the business the employee is leaving. They have to be narrowly defined and should only stay enforced for the time that is required to protect the business.
Alaska. In Alaska, although Non-Competes are not favored by courts, they are permitted, as long as they are narrowly tailored and reasonable with regard to the restrictions, and they are trying to protect a legitimate interest of the employer.
Yes. However, the restriction is more likely to be upheld if the clause only restricts the employee from dealing with customers/clients with whom the employee had contact with during a specified period (often 12 months) before termination. The restriction should also be limited in time.
A restrictive covenant is a clause in an employment contract or services agreement that works to prohibit an individual from (among other things) competing with his or her ex-employer for a certain period after he or she has left the business.
Legally Enforceable? Yes, a non-compete is legal in Alaska to protect trade secrets by reasonable means (AS 45.50. 920).
Breaching a restrictive covenant leaves you open to potential legal action from the other party, if they wish to enforce the covenant. If you are taken to court and the other party is successful, you might have to undo any work carried out and may face a fine or have to pay damages, as well as legal fees.
California - Non-compete clauses are not enforceable under California law. However, LegalNature's non-compete agreement may still be used to prohibit the employee from soliciting customers and other employees away from the employer.
A restrictive covenant is a condition that restricts, limits, prohibits, or prevents the actions of someone named in an enforceable agreement. In bond obligations, restrictive covenants limit the amount issuers can pay in dividends to investors.
If there is a restrictive covenant on your property you may be able to remove it. The first step would be to negotiate with the original developer or landowner to enter into a formal agreement to remove the covenants from the title.
How legally binding are restrictive covenants? Providing restrictive covenants are not void for restraint of trade and required to protect legitimate business interests, they will be viewed as legally binding. If restrictive covenants are introduced to existing employees, employer's need to provide consideration.