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Экзамен зачет учебный год 2023 / Pradi, TRANSFER OF IMMOVEABLE PROPERTY IN EUROPE FROM CONTRACT TO REGISTRATION

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of the owner makes impossible the transfer of the piece of immovable property from whoever values it less to whoever values it more within a voluntary transaction.The prolonged absence, whatever its reason, shows that the owner appreciates his property very little, or at least less than the possessor.While the owner is doing nothing in terms of investments to improve the property, the possessor at a minimum invests in occupying the property by periodically policing to eject other possible claimants of it.Most probably, the possessor is actually economically exploiting it by putting labor into the maintenance of the immovable in proper conditions.Once the problem of adverse possession is framed in such a way, it becomes clearly justifiable also within a theory of just desert.At this point one could argue, on a normative ground, that by having such long terms, legal systems are possibly overprotective of the absent owner.Possibly, the needs of stability of ownership that counterbalance the principle of adverse possession would be served also by shorter terms, such as, for example, five years.This is particularly true because a variety of devices (like suspension of the terms in given circumstances, or maintaining long term for bad faith possession) are available to protect the absent but "deserving" owners, such as those whose emigration has been forced by dramatic events or similar occurrences.

A shorter term would give an incentive to put labor into abandoned immovable property, something very much needed in the current shortage of dwellings.Moreover, the security and reliability of signals coming from property rights would not be impaired, but generally would be promoted by shorter terms that merge ownership and possession in the same person.Among other things, long terms make the proof of title to land extremely difficult, and increase what in economic terms are known as measuring costs.17Moreover, such a reform would be extremely cheap in terms of administrative costs due to the structure of this area of the law.In few areas a simple legislative fiat would be as effective as one which shortens the time requirement in adverse possession.Indeed there is no room for interpretation (five years means five years), which makes it

17D.C. North, Institutions, Institutional Changeand Economic Performance (1990).

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impossible for an incremental case law development to follow the needs of justice and efficiency.Finally there is no reliance to protect.

In this area of property law, one wonders if the convergence of legal systems on very long terms, short of being a proxy for efficiency, is not the product of inefficient path-dependent tradition proving the incapacity of propertylaw to adapt to the social requirements of a more just distribution of access to wealth.

To be sure, property law, especially in the domain of immovable, has always worked to protect the bottom line. Within this logic the will of the owner is sacred and the voluntary nature of the transfer of title should be the object of as little exception as possible. As the Chapters of this book have shown with considerable technical detail and precision, systems of transfer of immovable property (which is still the most important asset of family savings)should be designed to safeguard the will of the owner and the peace of mind of the buyer, and in this perspective there is no question that a thorough inquiry on the title is better performed by highly trained officials rather than by banks or insurance companies18.Today the global dynamic of property law shows a radical process of concentration of ownership in corporate hands, most often as a result of transformations in the law of takings (classic case in the US is Kelo v. City of New London) or as a result of predatory or outright fraudulent lending practices that makes the indebted titled ownerthe usual victim of foreclosure.In this scenario, a good property law system must protect both the ordinary seller and the buyer (physical persons) from interests conflicting with their secure transfer of personal ownership. Such corporate interests are those that today challenge the professional monopolies on transfers in the name of efficiency, competition and consumer satisfaction rarely corrupting even the academic legal discourse19. One should however be aware that a property law system is

18 See U. Mattei, Regole sicure. Analisi economico-giuridica comparata per il notariato, Milano (2006)

19SeeU. Mattei, The Rise and Fall of Law and Economics: an Essay for Judge Guido Calabresi,64 Maryland Law Review 220, (2005)

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a more complex structure of social organization and that distributional issues cannot be entirely overlooked by legal systems that aim to remain legitimately based on principles of equality among the people. This is why the issue of property law transfer, despite its technicality, must be appreciated as being at the center of the political struggle between concentration and distribution of social wealth, which is between exclusion and inclusion. In a legal system that honestly values the principle of equality, inclusion and distribution of social wealth call for systems of ownership transfer that, while being a secure guard to the status quo, are not completely closed to challenges that assert more fundamental social needs such as fighting against homelessness or asserting other fundamental rights of non proprietary nature20. This is why the tension between title and possession must be mediate by a ripe legal culture aware of the challenges that it must face. This book has shown the work of some of this aware scholars.

20SeeE. M. Peñalver and S. K. Katyal, Property Outlaws, How Squatters, Pirates, and Protesters Improve the Law of Ownership, 2010

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FEIL

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