5 - Acquisitive Prescription

Summary

Chapter 5 analyzes acquisitive prescription, a broader concept than adverse possession, and argues that registration-based acquisitive prescription with title and good-faith requirements can be justified by efficiency under certain conditions—Possession, however, is redundant, and may even give rise to undesirable outcomes. Given that boundary disputes can be left for another doctrine, possession-based acquisitive prescription—no matter whether possessors act in good or bad faith—can hardly be justified on an economic basis in countries with well-functioning registrars if possessors do not have title. The possession-based acquisitive prescription can only be justified in jurisdictions with dysfunctional registrars.