The name of this economic system of land ownership is called a A. feudal system.
This refers to the appropriation of land to a person or persons, through either inheritance, buying, bequeathment, etc that gives them control over the land.
Hence, we can see that in the New World, there was in use the feudal system which helped the people to grant land to people, in exchange of them working for the rulers.
Read more about feudalism here:
https://brainly.com/question/3143141
#SPJ1