Real Estate Transactions and Entrepreneurship: Transforming Value Through Exchange

Abstract

This article grows out of a paper presented at the 2010 Annual Meeting of the AALS. It was presented at a joint session sponsored by the AALS sections on Real Estate Transactions and Property Law. The article makes three key points.

1) It explains, from a transactional perspective, the relationship between property law and the law of real estate transactions.

2) It explains the growing significance and enhanced strategic value of real estate transactions law relative to property law.

3) It calls for development of a deeper theory of real estate transactions, independent of property law theory, and suggests that such a theory ought to account for the relationship between real estate transactions and entrepreneurship. Suggestions are offered with respect to the meaning of entrepreneurship, and different types of entrepreneurial styles/motives that might operate in real estate markets.

Keywords: real estate, property, entreprenurship, economics, markets

JEL Classification: M13, K11, K00, D40, A12, A1