IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

Optimal Title Search

  • Baker, Matthew, et al

In the United States, title to land is protected by a system of public records that would-be buyers must consult in order to ensure that they are dealing with the true owner. Search is a costly process, however, especially as one goes back in time and the records deteriorate. This paper uses a sequential search model to determine how far back in time buyers should search. We find that, in general, search of the entire record is not optimal, which implies that optimal search does not establish title with certainty. We test the model using state statutes and search guidelines that limit the required length of title search. Our results show that the search limits vary across states according to the predictions of the model. Copyright 2002 by the University of Chicago.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://dx.doi.org/10.1086/324658
Download Restriction: Access to the online full text or PDF requires a subscription.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by University of Chicago Press in its journal Journal of Legal Studies.

Volume (Year): 31 (2002)
Issue (Month): 1 (January)
Pages: 139-58

as
in new window

Handle: RePEc:ucp:jlstud:v:31:y:2002:i:1:p:139-58
Contact details of provider: Web page: http://www.journals.uchicago.edu/JLS/

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:ucp:jlstud:v:31:y:2002:i:1:p:139-58. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Journals Division)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.