On September 29, 2021 the President of Ukraine signed Law No. 1720-IX “On introduction of changes to certain legislative acts of Ukraine concerning transfer of title to land plot due to transfer of title to real estate situated on it” (hereinafter – the “Law”), which introduces changes to the Land Code, Civil Code of Ukraine and certain other legislative acts.
The law eliminates a gap in the legislation and stipulates that in case of acquisition of ownership of an object of immovable property (a house, another building or structure) or an object of unfinished construction located on a land plot, the ownership of such land plot is simultaneously transferred from the previous owner of such object to the new owner without changing its designated purpose.
This rule does not apply to transactions on sale and purchase of apartments in apartment buildings, and does not apply to land plots owned by the state and communal property.
By analogy, the new owner also receives the right to lease, emphyteusis, superficies of the land plot on which the property is located to the same extent and on the same conditions as those established for the previous owner.
The law comes into force on January 1, 2022.
How SCHNEIDER GROUP can help
If you have any questions concerning buying or selling real estate in Ukraine, please contact us. SCHNEIDER GROUP specialists are ready to advise you on legislative regulation of real estate and land transactions.