This paper examines the current situation following from the implementation of a land cadastre in the Republic of Moldova, a transition country that is seeking to establish a market economy as a means of facilitating greater prosperity. After consolidating the concepts of the functions land property serve within a capitalist-based economy, we examine the current state of affairs as it exists on the ground within this former socialist state and examine the consequences of imposing western-derived views on land reform in terms of tenure security and credibility. This reveals an extensive problem of land fragmentation in the rural sector, which is in part being countered by the emergence of a land lease market that sees new individual landowners providing land for the use of commercial enterprises. However, given the unique political economy present within Moldova, this situation in many ways contradicts, if not constrains, many of the potential benefits that a formal property system is thought to allow for, and therefore the objectives behind the transition phase have yet to be fully achieved. This has forced a re-examination of theory versus the practice of land property privatisation and land market interactions.
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