The fact that the Act on the Acquisition of Real Estate by Foreigners has been in force for more than 120 years, the progressive liberalization of the conditions for the acquisition of real estate by foreigners, as well as the increase in the number of cases whereby foreigners request permissions for such acquisition prompt us to summarize and assess the role of this statute in the Polish legal system. The statute regulates issues that are part of the so-called ”law of aliens”. This is because the substantive law norms contained in this statute refer to situations closely related to the foreign element, i.e., they allow us to determine whether any restrictions are imposed on foreign natural and legal persons (foreigners) wishing to acquire real estate in Poland and what such restrictions are.