What are covenants in real estate?

Covenants in real estate refer to promised conditions regarding property use that are typically specified in deeds or lease agreements. These agreements serve as restrictions or obligations that property owners must adhere to, ensuring that the use of the property aligns with certain standards or amenities. For example, a covenant might require homeowners in a community to maintain their yards to a specific standard or limit the types of structures that can be built to maintain aesthetic harmony.

This legal tool helps in maintaining property values and the overall character of neighborhoods by promoting consistency and controlling how properties are utilized. While the other options mention important aspects of real estate, such as mortgage requirements, zoning laws, and building codes, they do not specifically address the concept of covenants. The focus on promised conditions regarding property use is what makes this answer correct.