Title Registration Systems, Such as the One Introduced into Russia

Title registration systems, such as the one introduced into Russia after the fall of the Soviet Union, creates the following effect(s) :

A) Greater willingness by investors to undertake long-term investments.
B) Greater willingness by lenders to take real estate as collateral for loans.
C) Greater transaction costs for real estate.
D) Two of these.(a and b)
E) All of these.