The way I understand it... If Alice owns land and sells to Bob with some restrictions, that means Alice is still maintaining some ownership of the land. And the price that Bob pays is discounted from the otherwise fair market value, because it has those restrictions on it. Then, if Bob sells it to Charlie, Alice still has an ownership stake (logically speaking) from the restrictions (whether it is land use, or minera…
You would end up with people paying property tax for their gym memberships and apartment rentals. Those too are contractual encumbrances that would impact a buyer