What are implied covenants typically intended for?

Implied covenants are typically intended for the common benefit of all property owners. They arise from the nature of the transaction and the intent of the parties involved, rather than being explicitly stated in the contract. These covenants ensure that all parties understand their obligations and expectations regarding the property in question.

By providing these implied obligations, the covenants help ensure smooth relations within communities and protect the interests of all homeowners affected by the property’s use or changes. For example, in a residential community, there may be an implicit agreement that all property owners will maintain their homes to a certain standard, which upholds the neighborhood's overall appearance and functionality.

While legal protection against fraud is an essential aspect of property transactions, this concept is more aligned with express written agreements and statutory protections, rather than implied covenants. Personal benefits from implied covenants are typically seen as indirect, since they are designed to maintain the overall welfare of the community rather than focusing solely on the interests of individual buyers. Lastly, while it is true that these covenants may enhance property value by maintaining standards within the locality, this is a secondary effect rather than their primary intent.