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An action to enforce townhome covenants is, in fact, a legal or equitable action on a contract or written instrument—and so any enforcement action must be brought within five years.
Because the presence of a seal indicated an unusual solemnity in the promises made in a covenant, the common law would enforce a covenant even in the absence of consideration. [2] In United States contract law, an implied covenant of good faith is presumed. A covenant is an agreement like a contract.
The HOA's governing documents generally "run with the land", which means that all current and future owners of property within the HOA will be bound by them as a condition of property ownership. They usually include: The covenants, conditions, and restrictions (CC&Rs) of the subdivision. These are likely the most important documents affecting ...
There are five basic conditions that must be met in order for there to be an effective real covenant and equitable servitude: It must be enforceable . To be enforceable it must not be too vague, it must not violate a statute or the constitution , it must not violate public policy, and it must meet the requirements under the statute of frauds .
Under Georgia state law, an HOA or COA may include the following charges in a lien: Unpaid assessments; Late charges of the greater of $10 or 10% of the amount of each assessment or installment due;
The Official Code of Georgia Annotated or OCGA is the compendium of all laws in the state of Georgia. Like other state codes in the United States, its legal interpretation is subject to the U.S. Constitution , the U.S. Code , the Code of Federal Regulations , and the state's constitution .
Private transfer fee covenants, like similar covenants and restrictions attached to real property, generally provide for legal and equitable remedies, including foreclosure of a lien and a claim against the owner, who, in taking title to the real estate, takes title "subject to" all claims and assessments.
Pursuant to common law tradition, the courts of Georgia have developed a large body of case law through the decisions of the Supreme Court of Georgia and the Georgia Court of Appeals. The official reporter for the Supreme Court and the Court of Appeals are the Georgia Reports and Georgia Appeals Reports, respectively. [5]