AR SB551

Prohibits enforcement of restrictive covenants recorded for more than 30 years unless there is documented evidence of continued enforcement through a majority vote by property owners within the last 30 years

Prevents enforcement of covenants that can be enforced by 200 or more property owners, that have property owners not readily identifiable in the creating instrument, or where the associated property owners' association has not existed for 2 years

Allows termination of covenants when surrounding property conditions have changed to destroy the original value and purpose for which the covenant was created

Permits property owners to request expedited judicial hearings for declaratory judgment to terminate covenants if 200+ property owners can enforce it and no property owners' association exists

Exempts recreational covenants and large real estate developments with more than 7,500 residential or commercial lots from the termination provisions