The Choice of Titling System in Land

39 Pages Posted: 7 Nov 2002 Last revised: 30 Oct 2008

See all articles by Benito Arruñada

Benito Arruñada

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

Nuno Garoupa

George Mason University - Antonin Scalia Law School, Faculty

Abstract

This paper analyzes the choice of the socially optimal titling system assuming rational individual choices about recording, assurance and registration decisions. It focuses on the enforcement of property rights on land under private titling and the two existing public titling systems, recording and registration. When the reduction in the expected costs of forfeiture balances the higher cost of initial registration, a registration system is more efficient than a recording system. Implications for title assurance, land improvements and transactions are also considered.

Keywords: land transfer, registration, recording, property rights, title assurance, insurance, adverse selection

JEL Classification: K11, K12, L85

Suggested Citation

Arruñada, Benito and Garoupa, Nuno, The Choice of Titling System in Land. Journal of Law and Economics, Vol. 48, No. 2, pp. 709-727, 2005. Available at SSRN: https://ssrn.com/abstract=311586 or http://dx.doi.org/10.2139/ssrn.311586

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

Nuno Garoupa

George Mason University - Antonin Scalia Law School, Faculty ( email )

3301 Fairfax Drive
Arlington, VA 22201
United States

Register to save articles to
your library

Register

Paper statistics

Downloads
658
Abstract Views
3,577
rank
38,487
PlumX Metrics