Question

In: Economics

Restrictive covenants are usually incorporated via a homeowners’ association created by the ______________ to improve perceived...

Restrictive covenants are usually incorporated via a homeowners’ association created by the ______________ to improve perceived value and can become unenforceable by ______________ .

A. developers; changing neighborhood characteristics

B. developers; government assessment liens

C. homeowners; expiration

D. homeowners; over-enforcement

Solutions

Expert Solution

In real estate transactions, restrictive covenants are binding legal obligations written into the deed of a property by the seller.

Restrictive covenants are usually incorporated via a homeowners association created by the developers to improve perceived value and can become unenforceable by changing neighborhood characteristics.

Option A is correct here.


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