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This isn't the first time this topic has come up on these message boards and from what I've seen in the past, if the issues are not handled properly, can lead to very nasty neighbour disputes - all in all - best avoided.
We too have a covenant not to park caravans (or commercial vehicles) beyond the building line of the house i.e. between the end of the house and the start of the pavement. This covenant does not expire, is set out in the Lease, and even if the freehold is purchased, the covenant continues.
My understanding is that on leasehold property, the owner of the freehold can choose to enforce the covenant. On freehold property, it can still be enforced by a neighbour adversely affected, who can prove this, via the courts. If you can check your deeds, you will find that the freeholder needs to give permission for all sorts of things, not just parking caravans, such as alterations etc. etc. and some freeholders do enforce these covenants if you are in breach of the terms of the Lease.
The thing to bear in mind is that the covenant is supposed to be there for everyone's benefit - to stop stupid people parking dirty great big caravans in front of other home owners windows and other such daft things, and on the whole, to keep the place looking as it should - a residential street - not a storage facility for caravans.
Our local authority takes the view that if there is no one actually living in the van, its not in breach of any local planning regulations and therefore, they don't care what you do with it (so long as its not parked on a public road).
Ours is in storage and even though sometimes this is a pain, its more secure and I feel happier with it being there, out of the way.
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