Ending Finders, Keepers: The Use of Title Insurance to Alleviate Uncertainty in Land Holdings in India
U.C. Davis Journal of International Law and Policy, Vol. 17, p. 63, 2010
47 Pages Posted: 31 Aug 2011
Date Written: December 10, 2010
Abstract
In order to achieve maximum certainty and predictability in real property regimes, such regimes should contain both i) a method to determine existing rights and ii) a method to protect against loss that could occur. Because both of these aspects are currently lacking in real estate in India, I propose a system of title insurance with a hybrid of public and private functions. Specifically, I explore how title insurance can play an important role in both of these goals by establishing an accurate title records system (similarly to how title insurance operated in the U.S.) and by providing certainty for holders and investors through insurance protection. I have chosen India as a case study in order to also demonstrate how title insurance could offer benefits in both of the prevalent methods of land recording systems – the recording systems and the Torrens system – and in a country with imperfect land records in place.
Keywords: property, India, real estate, land records, title insurance, Torrens
JEL Classification: K11
Suggested Citation: Suggested Citation