Economic Policy, Antitrust, Land Title Systems And Optimal Title Insurance
60 Pages Posted: 26 Jan 2006 Last revised: 6 Jul 2017
Date Written: 2010/2013
This article presents decision models for choice of Land Title system, and shows that the Torrens/Registration system will be more efficient for the overall economy, given several constraints such as transaction costs, availability of title insurance, average tenant owner tenure, available legal processes and probability-of-claims. The effects of title systems on competition in the title insurance market are summarized. Models for the optimal amounts of title insurance under the Recording System and the Registration System are introduced.
Keywords: Risk and insurance; Incentives; Competition and Antitrust; real estate; Land Economics; title systems; complexity
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