Covenants

A covenant is a legal instrument irrevocably binding a landowner to certain land-use restrictions on a specific piece of land. The owner, who may continue to occupy the land, receives no payments other than possible land tax reductions. The obligation runs with the land and binds successors in title. The beneficiary of the covenant, usually a government department or a conservation trust, may enforce its terms within the courts. This system exists in only a few countries. For example, in Australia, both the Common-wealth Endangered Species Act and state legislation in New South Wales provide opportunities for private landholders to enter voluntary 'conservation agreements' or 'heritage agreements' with the government, which are then binding on current and future landowners.