An Economic Analysis of Civil versus Common Law Property

The article presents an analysis of civil law property and common law property. It mentions that the civil law system emphasizes on ownership and affects leaseholds whereas common law emphasizes on the estate system. The article identifies fault lines and offers an explanation of transaction cost for common and civil law. It highlights the delineating property rights of civil and common property laws and states that the civil law starts with ownership and common laws starts with feudalism.