ECONOMIC BASICS OF LAW OF REAL PROPERTY |
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Author |
 Grytsenko O. A., professor, Kharkiv, Pushinska, 77 |
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In heading |
Economic theory of law; | ||||
Signed print |
27.11.2015 | Issues number |
2016 - № 1 (24) | Page |
46-55 |
Type of articles |
Scientific article | Code UDK |
330.111.62 | ISSN print |
2411-5584 |
Abstract |
Problem setting. Real estate is the most significant share of social and personal wealth. In the process of market exchange, there is redistribution of legal powers. This results in obtaining the highest value of real property. Recent research and publications analysis. The main scientific researches determine that real property goes through different phases — construction, economy, and law. Scientists have paid insufficient attention to complex interrelated analysis. This considerably decreases practical potential of theoretical researches. Paper objective. The article objective is to prove that specific features of an immovable good, the peculiarity of interests and logics of behavior of economic entities, and existence of special transactional services require the peculiar legal regime of real property regulation. Paper main body. Real estate as a good of specific origin arises in the form of a construction object, which is created in a specific area of the economic activity — construction. Complexity of real estate reproduction needs the construction law to be identified. After construction, real estate gets into the multidimensional economic space, where interests of different business entities intersect. In the economic sense, real estate is the fusion of capital and land. Consequently, real estate assumes peculiar properties, which encompass immobility, mediated mobility, inelasticity of supply, low liquidity, and an opportunity of earning economic rent. According to functional features, real estate is divided into consumer, production, commercial, investment, and payable ones. Each type of real estate assumes some characteristics, which should be taken into account in taxation, funding, crediting, and management. To provide normal functioning of the real estate market, there is a need for specialized transactional services, which support, facilitate, and accelerate the exchange of powers and requires peculiar legal regulation. Real property may be of utility if it is registered in the form of certain legal relations, which should take into consideration all peculiarities of its functioning. Conclusions of the research. Specific features of real estate and peculiarities of entrepreneurship in the real estate market require indication of its functioning mechanism as a separate complex branch of law, which will be approved in the system of special legislation. |
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Keywords |
Real property law, transactional services, construction law. |
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Reviewer |
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External reviewer |
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Article in PDF |
1 46-55 | ||||
Bibliography |
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Code DOI |
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02.11.2015