Property Ownership
A covenant running with the land in Mississippi:
AExpires after the original parties to the agreement die
BBinds future owners of the property and is enforceable by and against successors✓ Correct
COnly applies to commercial properties
DMust be renewed every 20 years to remain valid
Explanation
A covenant running with the land binds all future owners of the property. It is included in deeds and restricts or requires certain uses, enforceable by and against all successors in interest.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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