Construction Right in the Law of Republika Srpska / Pravo građenja u pravu Republike Srpske

Abstract

Construction right needed to go into our legal system, particularly after radical changes of the property system on the municipality construction site. This is a specific type of right due to its dual legal character. This right represents both restricted proprietary right on someone’s land and autonomous real estate in legal sense. It becomes important when the property is registered in the cadastre. Existence of the construction right is in mutual interest of the land owner and the holder of a construction right.  The land owner has a possibility to obtain permanent benefit out of the land for an extended period of time and without conveyance of a property, and the holder of the construction right acquires an opportunity to build a structure on the land and becomes its owner, although he does not have an ownership on that land. This Institute is in the social interest, because that way it makes possible to control the construction of housing blocks which is an important segment of a social stability, and at the same time, allows accumulation of funds to invest in the public infrastructure, on condition that the owners of the land are the local self-government units. Potential builders ((investors) of housing blocks who do not have enough money to buy the construction land would be very much  interested in getting the construction permit, and that way their competitiveness on the market would be increased. In addition to it, the aforementioned right will be of special interest for those who want to invest their funds in production or some other line of business to expand a profit. To conclude, we expect that initiation of the construction rights in our legal system will bring numerous benefits which are likely to prove their utility in practice.