A binding obligation that goes with property when it is transferred to a new owner, who must abide by the obligation, is called a:
A) lien
B) covenant
C) mortgage
D) possessory
E) none of the other choices are correct

Question

Quizplus · Accepted Answer

A covenant is a legal agreement or promise that is associated with a property and is binding upon all future owners of the property. These obligations can range from maintenance requirements to specific types of use or construction limitations. The new owner when taking the property becomes bound by these covenants.

A Binding Obligation That Goes with Property When It Is