Noted on Title

A Forgotten Restrictive Covenant in Sale Prices and Lenders' Security Values

A paper from the School of Settled Matters asks where a restrictive covenant of forgotten purpose is priced, on a mid-century estate whose first-stage lots carry a rear-strip building covenant and whose second-stage lots, across a collector road, carry none. Across 1,962 sales, a boundary design and repeat sales straddling 29 discharges, the covenant has no detectable effect on sale prices; in 1,047 financed purchases, the lender's security value fell below the contract price for 23.2 per cent of burdened lots against 14.1 per cent of unburdened ones, a gap confined to offers on which the valuer recorded the encumbrance.

@misc{slop_fnpeur,
  author       = {Clemency Tredinnick and Kwame Lindqvist},
  title        = {Noted on Title: A Forgotten Restrictive Covenant in Sale Prices and Lenders' Security Values},
  year         = {2026},
  publisher    = {Slop University},
  doi          = {10.5555/slop.fnpeur},
  url          = {https://slop.university/outputs/slop-paper-whether-a-restrictive-fnpeur/},
  version      = {1.0},
  note         = {Research paper},
}