Property Rights by Squatting: Land Ownership Risk and Adverse Possession Statutes
Matthew Baker (),
Thomas Miceli (),
F. Sirmans C. and
Geoffrey K. Turnbull
Land Economics, 2001, vol. 77, issue 3, pages 360-370
A fundamental aspect of private property is the right to exclude trespassers or squatters. Nonetheless, in all 50 states a trespasser can acquire ownership by continuously occupying a parcel of land until the statutorily set period of limitations runs out. Although these adverse possession statutes appear to weaken property rights, this paper explains how such limits are valuable to property owners by balancing the risk of claims from past legitimate owners against the cost of expelling future trespassers or squatters. The empirical analysis using data from 46 states provides evidence that is consistent with the theory.
JEL-codes: K11 Q15 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (11) Track citations by RSS feed
Downloads: (external link)
A subscription is required to access pdf files. Pay per article is available.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:uwp:landec:v:77:y:2001:i:3:p:360-370
Access Statistics for this article
More articles in Land Economics from University of Wisconsin Press
Series data maintained by ().