Power of Corporation to enforce covenant against owner for the time being of land

Power of Corporation to enforce covenant against owner for the time being of land -

A covenant concerning any immovable property for the purposes of this Act entered into with the municipality by the owner of such property or by any person to whom such property of the municipality has been transferred by sale or exchange shall be enforceable by the municipality against any person deriving title under the covenant or notwithstanding that the municipality is not in possession of or interested in any immovable property for the benefit of which the covenant was entered into, in like manner and to the like extent as if it has been possessed of or interested in such property.