ABSTRACT

On 15 November [2001] the law was signed by President Kuchma … entered into force on 1 January 2002, and replaces the old Land Code from 1992 … It finally establishes a legal foundation for private land ownership … All land may not be transferred into private ownership … Exceptions … which may not be privatized … concern mainly forest and water lands unless otherwise stated in the Land Code, nature reserves or land for other environmental protection purposes of historical value unless otherwise stated by law or land belong to the military, nuclear power stations or space research establishments … Private and legal persons are prohibited to sell or otherwise transfer their land plots or land shares or transfer them to company capital until January 2005. Furthermore, private and legal persons’ purchase of ownership of agricultural land is limited to a maximum of 100 ha up until 1 January 2010 … Exceptions to this limitation may be granted in case of inheritance … Anyone purchasing agricultural land must have agricultural education or experience, or be involved with commodity agricultural production … The right to private ownership of land covers Ukrainian as well as foreign private and legal persons with two important exceptions: foreign private and legal persons are not allowed to own agricultural land or other land outside built-up areas. Land which is not agricultural land and which is situated outside built-up areas may be purchased if they own or plan to purchase property, e.g. a factory, belonging to the land. Land may also be leased to foreign private or legal persons.