Development Lease: Improving Legal Regulation in the Existing System of Property Rights

The right of development lease, which is currently the primary legal mechanism facilitating the development of publicly owned land, exhibits a number of drawbacks that compromise the stability of legal relations when the designated use of the land is altered; these issues require a legislative solution. The authors identify the potential of the rental form of land use to ensure the strength of the lease-mediated development right in the context of the suspension of the reform of property rights. A legal mechanism is proposed to strengthen the right of development lease of a land plot when the designated use of the latter changes, which, being based on a balance of private and public interests, is focused on the creation of capital construction projects.