Restrictive covenant is not just a term but an entire concept that an individual must understand. If you detect a covenant registered on the Title while you are looking forward to a new property or planning to develop an existing one it would have an impact on your property. So, let us understand moire about a restrictive covenant in Melbourne and understand how licensed surveyors can help.

Concept of Restrictive Covenant

A restrictive covenant in Melbourne or elsewhere is a legal contract that puts limitations on the use of a single parcel of land. It is an agreement between parties and puts limitations on the use of a single parcel of land for the benefit of the other. The contract is thus formed in a way that puts restrictions on the use of a particular property. Once the party enters into the contract, the agreement is registered on the Title and is not removed once you purchase a property. If you have a property with such an agreement, it must be disclosed while you are selling it.

General Restrictions included in a restrictive covenant

Restrictive covenants impose several conditions, and here is a list that includes some of them:

•    This agreement prevents subdivision of land. So, you cannot develop more than one property on the parcel of land.
• This agreement would put limitations on the choice of materials that can be used to build the walls of the building in the property.
• This agreement only allows the construction of a single-storey dwelling on the parcel of land.
• This agreement defines the acceptable fence height.

 What is Removal of Restrictive Covenant

Licensed professionals can conduct a legal process known as the removal of a restrictive covenant. It eliminates the limitations and restrictions imposed on a property by the covenant. When legally binding agreements become a significant obstacle during development, renovation, or changes in land use, these professional services can help in the removal of restrictive covenants.

Experienced licensed surveyors can assist property owners and developers in navigating through the complexities of these legal constraints. So, whenever you are looking to modify your property or undertake a new development, licensed surveyors can facilitate the smooth and successful removal of restrictive covenants in Melbourne.

How Can Removal of Restrictive Covenant in Melbourne Help?

Restrictive covenants put restrictions on a range of activities like building height, land subdivision, single dwelling and more. The removal of restrictive covenants can help property owners to use their investments to the fullest. When property owners wish to develop their land, the removal of restrictive covenants opens up possibilities to utilise their land more. Property owners enjoy the freedom to modify and improve their space, which can increase the value of their property. With the removal of a restrictive covenant in Melbourne, property owners can take up the development or renovation process more efficiently. Finally, when the potential of land is unlocked, it also helps in financial growth.

Removal of restrictive covenant in Melbourne is however a tricky and legal process. It requires the involvement of licensed professionals and hence it is best to be given to professional who are well versed with the intricacies and can successfully navigate through the process.

Bottom Line

Greater Melbourne Surveyors can provide professional assistance with the removal of a restrictive covenant in Melbourne. We have our network of legal professionals to assist you through the entire process. Get in touch with our experts for the removal of restrictive covenant in Melbourne and make the most of your property’s investment today!