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

Question

Quizplus · Accepted Answer

The correct term for a binding obligation that goes with property when it is transferred to a new owner is a "covenant" or sometimes referred to as a "real covenant." None of the options provided (lien, estate limitation, mortgage, possessory) accurately describe this concept.

A Binding Obligation That Goes with Property When It Is