The Thai government issued special titles in the 1980s to legalize squatters, restricting land sale and rental. A study in rural Thailand found that in areas with these titles, leased plots are more likely to be titled than self-cultivated ones. Untitled plots in these areas have a 6 percent risk premium in rental rates. In other areas, land rights don't affect leasing decisions, and untitled plots don't have a risk premium. This policy caused insecurity among landowners and distorted the land rental market.