A Proposal for a New Rule of Adverse Possession |
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Authors: | Jeong-Yoo Kim |
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Affiliation: | (1) Department of Economics, Dongguk University, 3-26, Pildong, Chungku, Seoul, 100-715, Korea |
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Abstract: | In this paper, I propose a new rule of adverse possession whereby the occupier acquires title if the owner does not raise an objection to the occupation within the legal limitation and at the same time the owner himself has not met the legal standard of monitoring effort. I show that the proposed rule with suitably chosen legal standard of monitoring effort can improve efficiency relative to the current rule of adverse possession. |
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Keywords: | adverse possession trespass monitoring specific investment |
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