Putting a Covenant on any property

[GWB]

I've been introducted to a concept that allows a homeowner or developer to place a covenant on personal or commercial property already built. They say you can simply go to your town hall and file a covenant for 1% of the gross sale value of the property. They say anyone can do this without any "value" associated with the covenant other than owning and living in the home. They say it runs for 99 years and after you sell, you will collect on this coventant every time the house is sold and you can will this.

Is this legal? And if so, would you please contact me.