The role of title insurance under recording and registration

This article outlines a transaction cost theory of title insurance andanalyses the role it plays in countries with recording and registrationof land titles. Title insurance indemnifies real estate right holdersfor losses caused by pre-existing title defects that are unknown whenthe policy is issued. It emerged to complement the errors and omissions insurance of professionals examining title quality. Poor organizationof public records led title insurers in the USA to integrate titleexamination and settlement services. Their residual claimant statusmotivates insurers to screen, cure and avoid title defects. Firmsintroducing title insurance abroad produce little information on titlequality, 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 uncertainbecause of adverse selection, competitive reactions from establishedconveyancers and the ability of larger banks to self-insure title risks.

Property enforcement as organized consent

This article develops and tests a theory of the institutions that makeproperty rights viable, ensuring their enforcement, mobilizing thecollateral value of assets and promoting growth. In contrast tocontractual rights, property rights are enforced in rem, being affectedonly with the consent of the right holder. This ensures enforcement butis costly when multiple, potentially colliding rights are held in thesame asset. Different institutions reduce the cost of gathering consentsto overcome this trade-off of enforcement benefits for consent costs:recording of deeds with title insurance, registration of rights and evena regimen of purely private transactions. All three provide functionallysimilar services, but their relative performance varies with the numberof transactions, the risk of political opportunism and regulatoryconsistency. The analysis also shows the rationality of allowingcompetition in the preparation and support of private contractswhile requiring territorial monopoly in recording and registrationactivities, this to ensure independence and protect third parties.

Recursos governatius. Doctrina de la Direcció General de Dret i Entitats Jurídiques (maig-setembre 2008)

Comentaris a les Resolucions de la Direcció General de Dret i Entitats Jurídiques de 5 de maig 2008, 16 de juliol 2008 i 29 de setembre 2008.

Recursos governatius. Doctrina de la Direcció General de Dret i Entitats Jurídiques IV

Comentaris a les Resolucions de la Direcció General de Dret i Entitats Jurídiques 22 de gener 2007, de 24 de gener 2007, de 15 de febrer 2007, de 16 de febrer 200 i de 19 de febrer 2007.

Recursos governatius. Doctrina de la Direcció General de Dret i Entitats Jurídiques (maig 2007-febrer 2008)

Comentaris a les Resolucions de la Direcció General de Dret i Entitats Jurídiques de 2 de maig 2007, de 10 de juliol 2007, d'11 de juliol 2007, de 16 de juliol 2007, de 17 de juliol 2007, de 22 d'octubre 2007, de 21 de desembre 2007 i 4 de febrer 2008.

Recursos governatius. Doctrina de la Direcció General de Dret i Entitats Jurídiques (febrer-abril 2008).

Comentaris a les Resolucions de la Direcció General de Dret i Entitats Jurídiques de 6 de febrer 2008, 8 de febrer 2008, 20 de febrer 2008, 2 d'abril 2008 i 18 d¿abril 2008.

Recursos governatius. Doctrina de la Direcció General de Dret i Entitats Jurídiques V

Comentaris a les Resolucions de la Direcció General de Dret i Entitats Jurídiques de 20 de març 2007, de 26 d'abril 2007, de 27 d'abril 2007 i de 30 d'abril 2007

Land, technical progress and the falling rate of profit

The paper sets out a one sector growth model with a neoclassical production function in land and a capital-labour aggregate. Capital accumulates through capitalist saving, the labour supply is infinitely elastic at a subsistence wage and all factors may experience factor augmenting technical progress. The main result is that, if the elasticity of substitution between land and the capital-labour aggregate is less than one and if the rate of caital augmenting technical progress is strictly positive, then the rate of profit will fall to zero. The surprise is that this result holds regardless of the rate of land augmenting technical progress; that is, no amount of technical advance in agriculture can stop the fall in the rate of profit. The paper also discusses the relation of this result to the classical and Marxist literature and sets out the path of the relative price of land.

Linkages of dietary patterns, international trade and land use: the case of olive oil in the European Union

Within only two decades olive oil developed from a niche product which could hardly be found in food stores outside the producing regions towards an integrated component in the diets of industrial countries. This paper discusses the impacts of the promotion of the “healthy Mediterranean diet” on land use and agro-ecosystems in the producing countries. It examines the dynamics of olive oil production, trade and consumption in the EU15 in the period 1972 to 2003 and the links between dietary patterns, trade and land use. It analyses the underlying socio-economic driving forces behind the increasing spatial disconnect between production and consumption of olive oil in the EU15 and in particular in Spain, the world largest producer during the last three decades. In the observed period olive oil consumption increased 16 fold in the non-producing EU15 countries. In the geographically limited producing regions like Spain, the 5 fold increase in export production was associated with the rapid industrialization of olive production, the conversion of vast Mediterranean landscapes to olive monocultures and a range of environmental pressures. High amounts of subsidies of the European Common Agricultural Policy and feedback loops within production and consumption systems were driving the transformation of the olive oil system. Our analysis indicates the process of change was not immediately driven by increases in demand for olive oil in non-producing countries, but rather by the institutional setting of the European Union and by concerted political interventions.

Toward partial reorientation of land management for sustainability in view of material circulation: biophysical and historical analysis

This paper explores two major issues, from biophysical and historical viewpoints. We examine land management, which we define as the long-term fertility maintenance of land in relation to agriculture, fishery and forestry. We also explore humans’ positive role as agents aiming to reinforce harmonious materials circulation within the land. Liebig’s view on nature, agriculture and land, emphasizes the maintenance of long-term land fertility based on his agronomical thought that the circulation of matter in agricultural fields must be maintained with manure as much as possible. The thoughts of several classical economists, on nature, agriculture and land are reassessed from Liebig’s view point. Then, the land management problem is discussed at a much more fundamental level, to understand the necessary conditions for life in relation to land management. This point is analyzed in terms of two mechanisms: entropy disposal on the earth, and material circulation against gravitational field. Finally from the historical example of the metropolis of Edo, it is shown that there is yet another necessary condition for the sustainable management of land based on the creation of harmonious material cycles among cities, farm land, forests and surrounding sea areas in which humans play a vital role as agent.

Textural classification of land cover using support vector machines: an empirical comparison with parametric, non parametric and hybrid classifiers in the Bolivian Amazon

Land cover classification is a key research field in remote sensing and land change science as thematic maps derived from remotely sensed data have become the basis for analyzing many socio-ecological issues. However, land cover classification remains a difficult task and it is especially challenging in heterogeneous tropical landscapes where nonetheless such maps are of great importance. The present study aims to establish an efficient classification approach to accurately map all broad land cover classes in a large, heterogeneous tropical area of Bolivia, as a basis for further studies (e.g., land cover-land use change). Specifically, we compare the performance of parametric (maximum likelihood), non-parametric (k-nearest neighbour and four different support vector machines - SVM), and hybrid classifiers, using both hard and soft (fuzzy) accuracy assessments. In addition, we test whether the inclusion of a textural index (homogeneity) in the classifications improves their performance. We classified Landsat imagery for two dates corresponding to dry and wet seasons and found that non-parametric, and particularly SVM classifiers, outperformed both parametric and hybrid classifiers. We also found that the use of the homogeneity index along with reflectance bands significantly increased the overall accuracy of all the classifications, but particularly of SVM algorithms. We observed that improvements in producer’s and user’s accuracies through the inclusion of the homogeneity index were different depending on land cover classes. Earlygrowth/degraded forests, pastures, grasslands and savanna were the classes most improved, especially with the SVM radial basis function and SVM sigmoid classifiers, though with both classifiers all land cover classes were mapped with producer’s and user’s accuracies of around 90%. Our approach seems very well suited to accurately map land cover in tropical regions, thus having the potential to contribute to conservation initiatives, climate change mitigation schemes such as REDD+, and rural development policies.

Land use regulation and productivity - Land matters: Evidence from a UK Supermarket chain

We use store-specific data for a major UK supermarket chain to estimate the impact of planning on store output. Using the quasi-natural experiment of the variation in policies between England and other UK countries, we isolate the impact of Town Centre First policies. We find that space contributes directly to store productivity; and planning policies in England directly reduce output both by reducing store sizes and forcing stores onto less productive sites. We estimate that since the late 1980s planning policies have imposed a loss of output of at least 18.3 to 24.9% - more than a “lost decade’s” growth. JEL codes: D2, L51, L81, R32.

Safety in vicinity of industrials plants: risk assessment and land use planning

The aim of this book is to survey on different Land Use Planning and safety approaches in vicinity of industrial plants. As this research is associated with three broad fields of Land Use Planning, safety and security, the set principle is to avoid unnecessary and over detailed information, but including the useful ones to provide a comprehensive resource which can be applicable for several purposes. Besides, the proposed method, which is explained in Chapter 7, can initiate a new field for future of Land Use Planning in vicinity of industrial plants.

"The Waste Land", desde los espacios retóricos de inventio, dispositio y elocutio.

Con este poema publicado en 1922 la poesía contemporánea europea descubrirá nuevas vías de creación: desde la introducción de los espacios de la vida urbana hasta el rechazo del sentimentalismo idealista, sin olvidar la búsqueda de las intricadas concepciones de la mente.

The choice of titling system in land

This paper analyzes the choice of the socially optimal titling systemassuming rational individual choices about recording, assurance andregistration decisions. It focuses on the enforcement of propertyrights on land under private titling and the two existing publictitling systems, recording and registration. When the reduction in theexpected costs of eviction compensates the higher cost of initialregistration, it is more efficient to introduce a registration systemrather than a recording system. The development of private "titleassurance" improves the standing of recording as compared toregistration. This improvement depends, however, on the efficiency ofthe assurance technology and, also, on corrective taxation that isneeded to align individual optimization, which disregards the transferelement in eviction, with social objectives.