Resources > Glossary > Covenant

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Covenant

Phonetics: cov·e·nant    \'kə-və-nənt\

Function: noun

Definition 1:
A clause in a mortgage that obligates or restricts the borrower. If the covenant is violated, it can result in foreclosure.

Definition 2:
A type of contract in which the covenantor makes a promise to a covenantee to do or not do some particular action.