Transferring real estate by means of a tender by local government units and the State Treasury

The Act of 21 August 1997 on real estate management specifies two modes in which real estate which is property of the State Treasury or of a local government unit can be transferred or given in perpetual usufruct – a tender and non-tender mode. The real estate resources are the basic assets element of the above-mentioned entities. They may be used for the purposes of development and organised investment activity, in particular for the construction of residential housing as well as implementing other public purposes. A tender procedure has been specified in the Polish law. A tender is the most optimal way to commit public property. The objective of this instrument consists in transactions involving public real estate according to universally applicable rules. It is a way which gives the greatest guarantee of security in terms of transferring immovable property assets.