What are a set of private, multi-party contracts created for the benefit of residents of a specific subdivision?

The correct choice is a set of private, multi-party contracts created for the benefit of residents of a specific subdivision because deed restrictions typically outline specific guidelines and limitations regarding property use and development within a subdivision. These restrictions are often established by the developers or homeowners' associations and are legally binding for all property owners in that subdivision. They are designed to maintain the character of the neighborhood, protect property values, and ensure that the community remains a desirable place to live by regulating aspects such as building styles, landscaping, and land use.

While policies documents, subdivision rules, and code of ordinances may contain regulations and guidelines, they do not necessarily function as private contracts between property owners. Policies and rules are generally broader and may not be specific to a particular set of residents or properties, whereas a code of ordinances is a public law enacted by a municipality and applies to the entire jurisdiction rather than to a specific subdivision.