Legal Definitions - assertory covenant

Definition: An assertory covenant is a type of covenant that affirms certain facts or makes an affirming promise under seal. It is a formal agreement or promise, usually found in a contract or deed.

Example: A seller of a property may make an assertory covenant in the deed, affirming that the property is free from any liens or encumbrances. This means that the seller is making a promise that the property is clear of any legal claims or debts that could affect the buyer's ownership of the property.

Another example of an assertory covenant is a promise made by a borrower in a real estate financing transaction not to encumber or transfer the property as long as the loan remains unpaid. This means that the borrower is making a promise not to take any actions that could affect the lender's security interest in the property.

These examples illustrate how an assertory covenant is a type of promise that affirms certain facts or makes an affirming promise under seal, which is legally binding and enforceable.