Land and property laws in Israel are the property law component of Israeli law, providing the legal framework for the ownership and other in rem rights towards all forms of property in Israel, including real estate (land) and movable property. Besides tangible property, economic rights are also usually treated as property, in addition to being covered by the law of obligations. The Jewish state was proclaimed on 14 May 1948 with its Declaration of Independence. The Provisional State Council's first legislative act was the "Law and Administration Ordinance of 1948", a reception statute. The act adopted all existing laws "with such modifications as may result from establishment of the State or its authorities." In respect of land law matters, Ottoman laws, as had been modified by British land law during the Mandate period, continued to apply. Most of these laws have been repealed by the last quarter of the 20th century. Over time, a modern set of codificative statutes have been enacted. These are mostly a codification of common law norms, albeit with a notable continental influence. Chief among these are the Land Law, 1969 and the Movable Property Law, 1971. They are joined by a multitude of other legislative acts pertaining to property law, in addition to a highly detailed body of case law by the Supreme Court and lower courts. Some of the main tenets of Israeli property law are: In land law, a system of title registration (Torrens title) is in place, allowing any person to quickly retrieve (usually through the internet) a summary of ownership and other rights towards any parcel of land. The legal transfer of land is only effectuated when a deed is executed and registered in the Land Registry Bureau (also known as Tabo or Tabu, טאבו). Under the Torrens title system, the Land Registry serves as an absolute guarantee of the title, allowing for a relatively easy and safe negotiation of land transactions. As of 2016, about 4% of the country's land area is still registered under a pre-Torrens, deeds registration system.