Where, for the more beneficial enjoyment of his own immovable property, a third person has, independently of any interest in the immovable property of another or of any easement thereon, a right to restrain the enjoyment in a particular manner of the latter property, or
where a third person is entitled to the benefit of an obligation arising out of contract and annexed to the ownership of immovable property, but not amounting to an interest therein or easement thereon,
such right or obligation may be enforced against a transferee with notice thereof or a gratuitous transferee of the property affected thereby, but not against a transferee for consideration and without notice of the right or obligation, nor against such property in his hands.
Legal Commentary & Landmark Judgments: Section 40
Section 40 codifies the law of restrictive covenants running with land, providing that restrictive covenants and affirmative obligations may be enforced against transferees with notice or gratuitous transferees.
In gated communities and plotted developments, register the master declaration of restrictive covenants (height caps, residential-use-only restrictions) so every purchaser is fixed with constructive notice under Section 40.