What are legally binding restrictions known as that are agreed upon and recorded by property owners?

Legally binding restrictions that are agreed upon and recorded by property owners are known as deed restrictions. These restrictions are specific provisions written into the property deed that dictate certain uses of the property or impose limitations on the property and its use. Deed restrictions are enforceable by law and can cover a wide range of stipulations, including architectural guidelines, usage limitations, and conditions that must be followed by current and future owners of the property.

In this context, they serve to maintain property values, ensure neighborhood conformity, and protect the interests of the property owners within the same community. This makes them an essential tool in real estate management and property development.