Benefit-of-the-Bargain vs. Economic Realities: Arizona Golf Course Covenant Leaves Everyone Scoring a Double Bogey
By Delilah Cassidy. Living on a golf course seems like a dream: waking up to the smell of freshly cut grass, sitting on the porch drinking lemonade during the Arizona spring. But since the Great Recession, what was once a dream for those living on the Ahwatukee Lakes Golf Course quickly became a nightmare; a nightmare even the law could not truly wake them up from. Not-So-Happy Gilmore: Three decades ago, a deed restriction was placed on a master-planned Arizona community limiting a portion of the land stating: “[t]he Property shall be used for no purposes other than golf courses . . . .” This restriction could only be changed if either 51% of the homeowners approved of the alternative use or a court found a “material change in the…