Convergence and Divergence in Systems of Property Law: Theoretical and Empirical Analyses
29 Pages Posted: 28 Jun 2018 Last revised: 13 Mar 2019
Date Written: December 11, 2018
This article utilizes a unique data set of property laws in 119 jurisdictions in the world to test convergence/divergence theories in comparative property law. Our theory predicts that first, the structure of property law among all jurisdictions in the world will converge, or is similar since some time in the distant past, as they all face the same, positive transaction costs in delineating property rights. Second, our theory posits that the style of property law will tend to converge when the doctrines in question are isolated, but diverge when they are interconnected. Our data and descriptive analysis support the theory. Doctrines regarding possession, sales, condominium, tenancy in common, and limited property rights serve as prominent examples.
Keywords: numerus clausus principle, tenancy in common, possession, sales, condominium
JEL Classification: K11
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