Spatial and economic, legal, accounting and tax aspects of the development right

In the present study the authors examine the logical connection and dependence between the spatial-economic, the legal and the accounting-tax aspects of the development right. There is drawn the assertion that the main emphasis in this process isthe achievement of a balance between the economic interests of the two parties in thenegotiation. The materialization of the investment intent is connected mainly with the legal aspect of the matter, where there is reflected the requirement for drawing up a development right agreement in writing and following the notarial procedure. There is presented an opinion on the accounting and tax aspects of the development right undersales deals, as well as under a compensation deal (exchange) in return for part of a newly erected building in the light of the currently operative legislation. With the present study the authors do not lay claim to solving the issues connected with the application of the development right. The task would be accomplished if it provides ground for reflection on the lawful application of the development right.Through the study the authors raise the question of the need to hold a discussionand to level criticism upon examining a particular object of study, in this case the development right.