What is an agreement that stipulates certain performance or non-performance acts regarding real property?

A covenant is a formal agreement or promise in a deed or lease that stipulates specific actions that must be taken or refrained from regarding real property. It serves as a binding commitment which can dictate how a property can be used or what the property owner must do, ensuring compliance with established standards or requirements related to the property.

Covenants can cover a range of obligations, including payment of dues, maintaining the property's appearance, and compliance with zoning laws. They provide clarity and enforceability to those involved in property agreements, creating a framework that can protect the interests of property owners and foster community standards.

In contrast, a condition subsequent typically refers to a clause that, if violated, can lead to the loss of the property, which is a more severe consequence than the obligations often stipulated in a covenant. A prescriptive easement relates to the right to use someone else's property after a certain period of continuous usage without permission, not an agreement regarding specific acts related to ownership or management of property. Restrictions are broader categorizations of limitations and may not encompass the same obligations as covenants specifically. Thus, a covenant best fits the description in the question, as it embodies the essence of agreeing to certain performance or non-performance acts concerning real property.