Titling Systems

In Alain Marciano and Giovanni Battista Ramello (eds.), Encyclopedia of Law and Economics, Springer, 2014

18 Pages Posted: 6 Apr 2015 Last revised: 12 Nov 2019

See all articles by Benito Arruñada

Benito Arruñada

Pompeu Fabra University - Department of Economics and Business; Barcelona GSE

Date Written: October 9, 2014

Abstract

Titling systems are the institutions used to enforce property rights as rights in rem and reduce the cost of transacting on them. To be effective in non-local markets, they require a registry, which produces information on claims or rights, thus allowing the judge to verify them, establish their relative priority and solve conflicts between claimholders by adjudicating rights in rem and in personam to them. Since the judge relies on register evidence, access to registers also allows contractual parties to reduce their information asymmetry before transacting.

Keywords: property rights, land policy, land titling, registries, transaction costs, impersonal exchange

JEL Classification: D23, K11, K12, L85, G38, H41, O17, P48

Suggested Citation

Arruñada, Benito, Titling Systems (October 9, 2014). In Alain Marciano and Giovanni Battista Ramello (eds.), Encyclopedia of Law and Economics, Springer, 2014, Available at SSRN: https://ssrn.com/abstract=2535966 or http://dx.doi.org/10.2139/ssrn.2535966

Benito Arruñada (Contact Author)

Pompeu Fabra University - Department of Economics and Business ( email )

Ramon Trias Fargas 25-27
Department of Economics and Business
Barcelona, 08005
Spain
+34 93 542 25 72 (Phone)
+34 93 542 17 46 (Fax)

HOME PAGE: http://www.econ.upf.edu/~arrunada

Barcelona GSE ( email )

Ramon Trias Fargas, 25-27
Barcelona, Barcelona 08005
Spain

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