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The judgment of the Court of Appeal in Warsaw raises concerns about stable requirements by now related to the owners of rights of perpetual usufruct in Poland, regarding the granted extend of rights to use by Polish judiciary.
The judgment passed in the case of Skra means that the owners of houses, shops and any citizen or company who owns properties within perpetual usufruct cannot have certainty that Polish judgmental authorities will confirm the duty of the land’s owner to extend it the right to perpetual usufruct – says Michael Holland, representative in SKRA consortium. – Present situation creates an unacceptable level of uncertainty for the owners of properties, no matter if it concerns houses, shops, offices, factories and if they are owned by Polish citizens, enterprises or foreign investors – adds Michael Holland.
The consortium which is engaged in development of Skra property announced today that it lodged a cassation complaint to the High Court. Therefore, we should wait for the judgment, on which the future of people who have the right of perpetual usufruct depends. The decision of the High Court will have a significant influence on the future of perpetual usufruct, its legal stability, popularity and financing of various investments within this often used title – thinks Bartosz Krużewski from Clifford Chance, law firm which represents Skra investors.
Perpetual usufruct is a right related to public lands, enclosed to the ownership right. Perpetual usufruct is granted on the period from 40 to 99 years. After its expiration, the owner has a right to extend it for another period from 40 to 99 years.