07-14-11 CAPE MAY HARBOR VILLAGE AND YACHT CLUB ASSOCIATION, INC. VS. DEBORAH L. SBRAGA, ET AL.A-6122-09T1
Applying the reasonableness standard, we held that an amendment to a declaration of covenants and restrictions governing a private residential community that prohibited leasing to third parties, adopted nine years after the homeowner challenging the amendment bought into the community and fourteen years after the original declaration was recorded, (1) did not constitute an impermissible restriction on the alienation of a fundamental property right, (2) satisfied the test of reasonableness by applying to the facts of the case factors prescribed by the Restatement of Property, and (3) was enforceable against the aggrieved homeowner.
