Leasehold estate

About: Leasehold estate is a research topic. Over the lifetime, 1589 publications have been published within this topic receiving 21480 citations. The topic is also known as: leasehold & tenancy.

Risk and Incentives in Sharecropping: Evidence from Modern US Agriculture

Abstract: A new data set shows the extensive use of sharecropping in modern U.S. agriculture particularly in wheat, rice, corn, soybeans, and cotton. For these five crops, I investigate the importance of risk and three types of incentive problems that are commonly regarded to 'cause' sharecropping. A direct measure of risk from county level weather data is constructed and this measure is a major explanation in the choice between cash and share contracts. The potential for exploitation of the land by the tenant is also an important determinant of tenancy choice. Finally, for three inputs, fertilizer, petroleum products, and herbicides & pesticides, incentive problems in the provision of inputs by the tenant are shown to exist. For these inputs, I show that sharecroppers use less than cash renters, but this difference is eliminated when the costs of these inputs are also shared.

Uncertain ground: the ‘Ownership Flat’ and urban property in twentieth century Bombay

Abstract: This article examines the changing meaning of property in Bombay over the twentieth century. It suggests that the Ownership Flat, with ownership rather than tenancy in apartment buildings, was a novel form of property that emerged in the city over the course of the century. The Ownership Flat has become the hegemonic form of dwelling in Mumbai and is the desired outcome of far-reaching urban renewal interventions. Yet while the idea of ‘ownership’ implies an unproblematic relationship between ‘owner’ and ‘property,’ this article suggests that the Ownership Flat represented a major shift in the idea of urban property. In particular, while the Ownership Flat was a cuboid in the air enclosed by walls, ceiling and floor, real property as understood by the law meant land and immoveable property upon land. Further, ‘ownership’ of flats in Bombay was exercised through the cooperative housing society, a peculiar legal institution where the society as collective owned the building containing Ownership Flats. A con...

On the structure of tenancy contracts: theory and evidence from 19th century rural Sicily

Abstract: In a world with asymmetric information, contractual terms are an important incentive device. This Paper studies the effect of crop characteristics on the choice between short-term and long-term tenancy contracts and on the choice between sharecropping and fixed-rent contracts when the production process depends on two non-contractibles: effort devoted to current production and effort devoted to plant and soil maintenance. Long-term contracts are effective in providing incentives for non-contractible maintenance investment. Since, however, incentive provision is costly, long-term contracts will be employed only when, due to the characteristics of the crop, maintenance benefits are high, or when, due to the characteristics of the tenant, the cost of providing incentives is low. The predictions of the theory are tested on a unique data set containing 705 tenancy contracts signed between 1870 and 1880 in the province of Syracuse (Sicily). The empirical evidence shows that, indeed, long-term contracts were used if the crops grown had higher maintenance needs. Other comparative static results are derived and tested empirically.

Land tenure and tenancy conditions in relation to rice production in three villages in the red river delta, vietnam

Abstract: Red River Delta is one of the main rice producing regions in Vietnam. With la rge variations in natural conditions, the Red River Delta is suitable for development of different types of crops and animals. In recent years, the importance of fisheries, aquaculture and fruit trees have been increasing. With the average farming area per household in Red River Delta being 0.28 ha (2005), land is a limiting factor in generating sufficient income. Most farmers resort to diversifying their farming to high value crops such as vegetables, fruit trees, and livestock for urban markets, or engagi ng in non-farm activities. The result of this trend is the emergence of tenancy among farmers. This paper attempts to clarify the determination and function of rice land tenancy within the context of the economic structure in three villages in the North o f Vietnam. A series of questionnaire surveys were conducted in 2010- 2011 in the villages of Hung Yen (A), Bac Ninh (B), and Hai Phong (C) Provinces which are located in the Red River Delta. The main findings of the research are as follows. There is an increasing area of non-rice production with the appearance of different kinds of tenurial status in different villages. The tenurial status changes with the age of the farmers, indicating the influence of life -cycle on farmers’ economic behavior. There is also heavy dependence upon kinship ties in landlord-tenant relations. The production function analysis revealed that the increased use of land, labor, seed and fertilizer could lead to a higher rice production. The average rental under the predominant form of tenancy appeared to be equal to the marginal product of land, but under the contracts established between relatives, the average rental was much lower than the marginal product.