On 31 August 2023, an amendment to the Act on real estate management came into force, allowing perpetual usufructuaries to request the State Treasury or a local government authority to sell real properties held by them in the perpetual usufruct. The adopted solution gives perpetual usufructuaries the possibility to purchase the ownership right, but does not introduce such an obligation. Such entitlement can be exercised until 31 August 2024.
- Why us?
Osborne Clarke Real Estate Practice provides legal advisory services in relation to the acquisition and disposal of real properties held in the perpetual usufruct and exercising the right of perpetual usufruct. Our experts have experience regarding the transformation of perpetual usufruct into ownership under the provisions of previous legislation providing for this possibility.
- How can we help?
- Verification of the entitlement to request the sale of the real property and the conditions for such disposal.
- Assistance in preparation of the request for sale of the property.
- Assistance in negotiations of the agreement for the sale of the property.
- What are the benefits?
- Comprehensive legal advisory services on the conversion of perpetual usufruct right into ownership under one law firm and one cooperation agreement.
- Safeguarding the interests of the investor in the negotiation of the real properties sales agreement.
Contact one of our experts
