Paul is the registered proprietor of 20 hectares of land in the Margaret River region of Western Australia. For many years he planned to develop the land into an exclusive residential complex. In 2015, Paul completed "Vintage Estate", a cluster of 20 luxury homes dotted around a large artificial lake. 12 homes have been sold and the others retained by Paul and leased to stressed professionals. All owners of homes in "Vintage Estate" are entitled to private recreational rights over the lake, including access by boat ramps from each of the properties to the lake. Paul owns the land on which the lake is situated and maintains it. Earlier this year, Paul decided to retire and sell his interest in "Vintage Estate", and the land on which the lake is situated, to Lakeview Pty Ltd (Lakeview). Even though the sale has not yet been completed and its interest registered, Lakeview is concerned about maintenance and insurance costs associated with the lake and plans to prohibit residents from using the lake for recreational purposes. The owners of the homes claim their rights over the lake are in the nature of an easement. Lakeview claims the rights do not satisfy the four elements required to establish an easement.

Using the four-step process, explain whether or not the owners of the homes will be able to retain their rights to use the recreational facilities over the lake