The role of title insurance under recording and registration

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• dc.contributor.author Arruñada, Benitoca
• dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
• dc.date.accessioned 2017-07-26T10:50:21Z
• dc.date.available 2017-07-26T10:50:21Z
• dc.date.issued 2001-07-01
• dc.date.modified 2017-07-23T02:06:19Z
• dc.description.abstract This article outlines a transaction cost theory of title insurance and analyses the role it plays in countries with recording and registration of land titles. Title insurance indemnifies real estate right holders for losses caused by pre-existing title defects that are unknown when the policy is issued. It emerged to complement the errors and omissions insurance of professionals examining title quality. Poor organization of public records led title insurers in the USA to integrate title examination and settlement services. Their residual claimant status motivates insurers to screen, cure and avoid title defects. Firms introducing title insurance abroad produce little information on title quality, however. Their policies are instead issued on a casualty basis, complementing and enforcing the professional liability of conveyancers. Future development in markets with land registration is uncertain because of adverse selection, competitive reactions from established conveyancers and the ability of larger banks to self-insure title risks.
• dc.format.mimetype application/pdfca
• dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=565
• dc.identifier.citation The Geneva Papers on Risk and Insurance, 27 (4), 2002, 582-601
• dc.identifier.uri http://hdl.handle.net/10230/432
• dc.language.iso eng
• dc.relation.ispartofseries Economics and Business Working Papers Series; 565
• dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
• dc.rights.accessRights info:eu-repo/semantics/openAccess
• dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
• dc.subject.keyword transaction costs
• dc.subject.keyword property rights
• dc.subject.keyword land titles
• dc.subject.keyword title insurance
• dc.subject.keyword real estate
• dc.subject.keyword Business Economics and Industrial Organization
• dc.title The role of title insurance under recording and registrationca
• dc.type info:eu-repo/semantics/workingPaper