Oleksandr Polivodskyy mentioned the main risks for business from the introduction of the land market in Ukraine


The one of the main risks of the emergence of a land market in Ukraine for investors is legal uncertainty, which will arise if the Constitutional Court does not rule on the Law №552-IX by the 1st of July, 2021.

The Sofiya Law Firm partner, Mr. Oleksandr Polivodskyy spoke about the practical problems of introducing the land market in Ukraine during the “Dialogue with Volodymyr Klymenko” program.

It should be recalled that on 31st of March, 2020, the Verkhovna Rada of Ukraine adopted the Law "On Amendments to Certain Legislative Acts of Ukraine Concerning the Conditions of Circulation of Agricultural Land" №552-IX, which defined the key rules for starting the land market in Ukraine. However, the constitutionality of this legislative act was questioned by MPs, who immediately brought two lawsuits to the Constitutional Court (the content can be found on the official website of the Constitutional Court (here and here), which still remain unconsidered.

On the Sofiya Law Firm partner’s opinion, the main threat to business is not so in the possibility of repealing the Law on Land Market, as in not resolving this issue until the 1st of July, 2021, when this law should enter into force.

The expert modeled a probable negative scenario: “After the 1st of July, people will start buying and selling land, which will be registered within the Law №552-IX. And after some time, the decision of the Constitutional Court on its unconstitutionality will be made on the basis of lawsuits. What will be the legal consequences of dealing with agreements that define the rights and obligations of the parties at the time of conclusion? We will get a situation of legal chaos, "he warns.

"It means, - sums up O. Polivodskyy, - from the 1st of July, 2021, the business that invests money, in fact, falls into a situation of legal uncertainty, when the land market seems to exist, but can be canceled at any time. Of course, this does not attract investors."



25.02.2021
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Oleksandr Polivodskyy mentioned the main risks for business from the introduction of the land market in Ukraine
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