Economic Analysis of the Right as an Effective Legal and Institutional System that Allows Holders of Expectational Rights to Incorporate their Possessions to the Legal Framework of the Property

In Search to Rationalize Maximize their Satisfactions and delay the Project To Disclaim The Project

Abstract

This investigation is based on the work done by the Formalization Commission of Private Property (COFOPRI), under the legal and institutional reform as per the D.Leg Nº 803 «Access Law to the Formal Property» in 1996, which has allowed the formalization of more than one million four hundred thousand properties in the entire country and permitted that more than seven million people benefit from it. This fact can be equated to the efforts of the XIX and XX century made by the developed societies in the modern states to create and expand the rights of effective properties. The system of transfer of effective property that we are looking must meet with the three objectives: first allow the increase circulation of wealth, this is to get as many as given of efficient exchange operations possible making easier the transactions; second improve the quality of life of the individual and third the elimination or reduction of the risk of inefficiency of the acquired right, meaning the generation of legal security for the acquirers. The results that we will obtain at the end of this research project will allow us to validate the gestation model of COFOPRI and the application of the Economic Analysis of Law categories such as the Pareto optimun, cost benefit analysis, cost of the transactions and the externalities to realize a massive process of formalization of real property in the province of Trujillo. It was concluded by the analysis documental and application of the questionnaire to one hundred right holders expectative that were able to incorporate possessions in the legal framework of property of the legal system and institutional that has its foundation in the Economic Analysis of Law that it has been effective to rationally maximize their satisfactions and leaving the informality of the Province of Trujillo in the Department of La Libertad.