Acquisition and expropriation of real estate for the public benefit in the Czech Republic

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Acquisition and expropriation of real estate for the public benefit in the Czech Republic

Popis výsledku v původním jazyce

Expropriation is a traditional and generally accepted way of property acquisition for the public benefit. In the Czech Republic, it is most often used for roads and energy infrastructure. It has recently been a favoured tool for implementing measures to improve the environment and protect against natural disasters. Investors typically need several years to purchase or expropriate all the land required. This slows down the construction process. Every year of delay means a cost increase of approximately 5 %. My paper aims to examine the reasons for this situation. Firstly, the relevant laws are subject to far too frequent amendments. These changes lower the chances for an agreement between owners and investors by making it more difficult to assess whether a deal is profitable or not. I therefore consider them the biggest problem. Differences in land value as determined by experts during the expropriation procedure is also an issue. Last but not least, the relevant Czech laws allow for compensation only to be granted for the value of the real estate which is actually expropriated. However, owners rightfully ask for compensation for the depreciation of the remaining land, the loss of profit and the expropriation of the surrounding plots of land. Owners also often prefer to receive different plots of land in exchange for the land expropriated. Appropriate amendments of legislation could significantly improve the situation. In my paper, I will provide some recommendations in this respect and discuss them thoroughly.

Název v anglickém jazyce

Acquisition and expropriation of real estate for the public benefit in the Czech Republic

Popis výsledku anglicky

Expropriation is a traditional and generally accepted way of property acquisition for the public benefit. In the Czech Republic, it is most often used for roads and energy infrastructure. It has recently been a favoured tool for implementing measures to improve the environment and protect against natural disasters. Investors typically need several years to purchase or expropriate all the land required. This slows down the construction process. Every year of delay means a cost increase of approximately 5 %. My paper aims to examine the reasons for this situation. Firstly, the relevant laws are subject to far too frequent amendments. These changes lower the chances for an agreement between owners and investors by making it more difficult to assess whether a deal is profitable or not. I therefore consider them the biggest problem. Differences in land value as determined by experts during the expropriation procedure is also an issue. Last but not least, the relevant Czech laws allow for compensation only to be granted for the value of the real estate which is actually expropriated. However, owners rightfully ask for compensation for the depreciation of the remaining land, the loss of profit and the expropriation of the surrounding plots of land. Owners also often prefer to receive different plots of land in exchange for the land expropriated. Appropriate amendments of legislation could significantly improve the situation. In my paper, I will provide some recommendations in this respect and discuss them thoroughly.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50501 - Law

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2015

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

SGEM 2015: Political Sciences and Law - conference proceedings Volume 1

ISBN

9786197105469

ISSN

2367-5659

e-ISSN

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Počet stran výsledku

8

Strana od-do

475-482

Název nakladatele

SGEM

Místo vydání

Sofia

Místo konání akce

Albena

Datum konání akce

1. 1. 2015

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000374909600061