Sunday, May 31, 2015
Yun-Chien Chang (Assistant Research Fellow, Academia Sinica) recently provided a chapter entitled, The Evolution of Property Law in Taiwan: An Unconventional Interest Group Story, For Private Law in China and Taiwan: Law and Economic Analyses, Cambridge University Press, 2016 . Provided below is an excerpt from the article:
This chapter first gives an overview of the several types of lesser property interests allowed by the Taiwan Civil Code and provides statistics as to how often property owners in Taiwan utilize these forms. The Book of Things in Taiwan Civil Code was overhauled between 2007 and 2010. This chapter coded the amendments and found: (1) 97% of the proposals by the task force (composed of property scholars and judges) were accepted verbatim by the legislature; (2) property laws in Japan, Germany, and Switzerland heavily influenced this round of amendments. The (unconventional) story behind the legal changes is that scholars and judges are the “interest group” that drives these amendments. The business world is generally uninterested in changing the abstract Taiwan Civil Code. Generally speaking, the new law, as proposed by this interest group, is more efficient than the old law, as, for instance, the new law decreases information costs for third parties in several aspects. The findings also have implications for the debate regarding the evolution of property rights and the long-term efficiency of the common law versus statutes.