On 31 August 2023, the Act amending, among other things, the Act on Real Estate Management will come into force.
For one year, entrepreneurs will be able to apply for the transformation of the perpetual usufruct of commercial land into ownership. This is the second stage of the reform. A few years ago, homeowners and apartment owners were already able to exercise this right.
However, such demand will not be available to all current perpetual users, since the legislator has introduced certain restrictions, which will be both subjective and objective in nature.
Whether it is worth transforming perpetual usufruct into ownership and how much it costs should be assessed individually in each case.
If you have any questions, please contact us:
Managing Partner of CMW
Trainee attorney at CMW Legal