Final answer:
A restrictive covenant is a provision in a deed that limits the use of property by future owners. It is commonly used by land developers to maintain neighborhood standards and may include discrimination which is no longer legal.
Step-by-step explanation:
The type of restriction placed by an owner who has created a restriction on the future owners of a parcel of real estate is known as a covenant. Restrictive covenants are provisions in a deed that limit the use of the property and prohibit certain uses. These are often established by land developers to maintain certain standards within a neighborhood, such as minimum house sizes, setback lines, and aesthetic requirements.
It is important to note that some covenants historically carried discriminatory practices by forbidding the sale of properties to specific ethnicities or religious groups. However, such restrictions are not permissible under current laws. Easements, on the other hand, are rights to use someone else's property for specific purposes, like preserving open spaces for public benefit.
Therefore, the correct answer is C) Covenant, as this term best fits the description given in the question about restrictions placed by an owner on future owners of the property.