Final answer:
The question is related to the concept of building schemes in property law, where the covenants are automatically passed to new owners. These covenants are intended to uphold standards and protect property values in a community.
Step-by-step explanation:
The query pertains to the concept of a building scheme in property law, which is where mutually enforceable covenants are created among a group of properties within a subdivision. Under a building scheme, when the original conditions are met, the benefit of each covenant associated with the property is passed along to subsequent owners automatically upon the sale of each house within the scheme. This means that new owners will be bound by, and also benefit from, the covenants established by the scheme without the need for a specific assignment of benefits.
Examples of building scheme covenants: maintenance of common areas; architectural controls on development; restrictions on use. These covenants are designed to maintain a certain standard and aesthetic within the community and help protect the property values of the homes within the scheme. A building scheme refers to a set of restrictive covenants that are imposed on property within a specific development or area. These covenants dictate certain conditions and restrictions that the homeowners must adhere to. When the conditions for a building scheme are met, the benefit of each covenant automatically transfers or 'runs' to the new owner whenever a house within the scheme is sold.