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Abstract

The objective of this research paper is to identify the surveying and legal problems occurring as part of the practical implementation of transforming the right of perpetual usufruct into ownership title in the context of the new regulations that have been in force since 1 January 2019. This is a consequence of the Act of 20 July 2018 on the transformation of the right of perpetual usufruct of the land developed for residential purposes into the ownership title to this land. The research problem of this study is the analysis of the real estate subjected to the transformation of the right of perpetual usufruct into the ownership title in the context of the new regulations in force since 1 January 2019. The conducted research has resulted in the identification of the problems related to the interpretation of these new regulations, also in defining the scope of real properties subjected to the transformation, issuing certificates confirming the transformation, and entering the effects of this transformation into land and mortgage registers. These problems may hinder the practical implementation of the transformation process as well as hamper the execution of real estate transactions. In order to illustrate the implementation scale of these new regulations, the author of this research paper has defined the purposes for which the real properties in the selected city were let into perpetual usufruct, the approximate scope of the properties subject to the transformation and the financial consequences of this process.
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Abstract

The paper considers a private ownership economy in which economic agents could realize their aims at given prices, Walras Law is satisfied but agents’ optimal plans of action do not lead to an equilibrium in the economy. It means that the market clearing condition is not satisfied for agents’ optimal plans of action. In this context, the paper puts forward three specific adjustment processes resulting in equilibrium in a transformation of the initial economy. Specifically, it is shown, by the use of strict mathematical reasoning, that if there is no equilibrium in a private ownership economy at given prices, then, under some natural economic assumptions, after a mild evolution of the production sector, equilibrium at unchanged prices can be achieved.
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