A restrictive covenant differs from zoning in that a covenant is:
Correct Answer
B) Private, enforced by the parties benefited
Why this is correct: A restrictive covenant is a private agreement recorded in the deed, typically created by a developer or neighbors. Enforcement is through private legal action by the parties who benefit from the restriction (e.g., homeowners' association or adjacent landowners). Why the other choices are wrong: 'Public, enforced by the municipality' describes zoning, not a covenant. 'Applicable only to commercial property' is incorrect; covenants are common in residential subdivisions. 'Automatically extinguished after twenty years' is false; covenants can have specified durations but do not automatically expire after a set period. Exam tip: Covenants are private; zoning is public. A property must satisfy both, with the more restrictive governing.
Why This Is the Correct Answer
Why this is correct: A restrictive covenant is a private agreement recorded in the deed, typically created by a developer or neighbors. Enforcement is through private legal action by the parties who benefit from the restriction (e.g., homeowners' association or adjacent landowners). Why the other choices are wrong: 'Public, enforced by the municipality' describes zoning, not a covenant. 'Applicable only to commercial property' is incorrect; covenants are common in residential subdivisions. 'Automatically extinguished after twenty years' is false; covenants can have specified durations but do not automatically expire after a set period. Exam tip: Covenants are private; zoning is public. A property must satisfy both, with the more restrictive governing.
More Property Description Questions
A property is located in FEMA flood zone AE with a base flood elevation of 485 feet. The lowest floor is at 487 feet. What is the significance for the appraisal?
In a leasehold estate, the tenant's interest in the property is called:
A residential property is located in a subdivision governed by covenants, conditions, and restrictions (CC&Rs) recorded in 1985. One CC&R prohibits detached accessory structures over 12 feet in height. The property currently has a 14-foot-tall detached garage built in 2012. No enforcement action has been taken. How should the appraiser reflect this violation in the appraisal report?
Why is a street address alone insufficient as a legal description in an appraisal report?
A ground lease typically involves:
In the rectangular survey system, a section contains how many acres?
A property is located in a 100-year flood zone. This means the property has what probability of flooding in any given year?
A building's foundation shows minor settling cracks that have been properly repaired and show no signs of recent movement. This condition represents:
An appraisal of a rented single-family home where the lease runs another four years at below-market rent is valuing which interest, from the owner's side?
When appraising a tenant's interest in a property under a long-term lease with below-market rent, the appraiser is valuing which property right?
People Also Study
Valuation Principles & Procedures
25% of exam
Market Analysis & Highest/Best Use
15% of exam
Appraisal Math & Statistics
15% of exam
USPAP (Ethics & Standards)
15% of exam
Report Writing & Compliance
10% of exam
Previous Question
A building constructed in 1995 underwent a major renovation in 2015. In 2024, what would be the most appropriate effective age for appraisal purposes?
Next Question
An appraiser discovers that a property's garage encroaches 2 feet onto the neighboring property. The encroachment has existed for 12 years in a state with a 10-year adverse possession statute. How should this be addressed?
