THE LEGAL NATURE OF THE RIGHT TO A LONGTERM LEASE

The right to a long-term lease was introduced in the Macedonian property law system for the first time by a subject-specific law - the Construction Land Act of 2001. Since then, the right to a long-term lease has remained a part of every Construction Land Act that followed up to the most recent one - the Construction Land Act of 2015. The regulation of the right to a long-term lease in the Construction Land Act is mostly based on the regulation of the so-called right to build found in the Slovenian Property Code and the Croatian Ownership and Other Real Rights Act. In the respective legal systems, the so-called right to build is undoubtedly regulated as a right in rem since it is found in property and ownership acts. However, In the Macedonian legal system, the right to a long-term lease was not incorporated in the Ownership and Other Real Rights Act of 2001. This raised the question of whether or not it could be considered a right in rem. By exploring the origins, the regulation pertaining to the right to a long-term lease, its characteristics, and the reasons for its incorporation in the Macedonian property law system, this paper aims to demonstrate that the right to a long-term lease is by nature a right in rem.