1

Abstract

An efficient legal system in all its dimensions, including land (real estate)which is the most important capital after manpower in any society, is ameans for introducing economic development. In view of this, the landregistry system is the legal system that supports land property rightsthroughout the world and, therefore, it is necessary to identify the economicfunctions that can be expected from the Land Registry and the economicbasis for the supply of these functions and that these should be considered bylegislators in enactment of legislation. The study of the land registry systemin developed countries shows that this system is based on the theory of"economic efficiency". This system has two basic functions, namelyconverting hidden assets in land into capital and creating impersonal orasset-based market of land.

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