Paper #1177

Title:

Property titling and conveyancing

Author:

Benito Arruñada

Date:

October 2009

Abstract:

This chapter analyzes titling institutions and the regulation of supporting conveyancing services. After examining the tradeoff of enforcement benefits and consent costs posed by property rights, it explains how different public titling systems (privacy, recording and registration) try to solve this tradeoff, and what the consequences are for the nature and regulation of private conveyancing services. The chapter ends with a discussion of some empirical issues and data which are useful for comparing, designing and managing titling and conveyancing systems.

Keywords:

Property rights, enforcement, transaction costs, registries, lawyers, notaries

JEL codes:

D23, K11, K12, L85, Q15

Area of Research:

Finance and Accounting

Published in:

Kenneth Ayotte and Henry E. Smith, eds., Research Handbook on the Economics of Property Law, Research Handbooks in Law and Economics Series, Edward Elgar, Cheltenham UK, 2011, 237-56.

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