LAW OF UKRAINE

of November 17, 2009 No. 1559-VI

About alienation of the parcels of land, other real estate units placed on them which are in private property for public requirements or based on social necessity

This Law determines legal, organizational and financial basis of regulation of the public relations arising in the course of alienation of the parcels of land, other real estate units placed on them which are in property of physical persons or legal entities for public requirements or based on social necessity.

Section I. General provisions

Article 1. Determination of terms

1. In this Law the terms below are used in the following value:

the redemption of the parcels of land, other real estate units for public requirements - transfer of the parcels of land, other real estate units placed on them which are in property of physical persons or legal entities, from their consent in the state-owned or utility property for satisfaction of public requirements by the conclusion of the purchase and sale agreement or other transaction according to the procedure, established by the law;

buyback price - the cost of the parcel of land (its part), the apartment house placed on it, other buildings, constructions, long-term plantings taking into account the losses caused to the owner owing to the redemption of the parcel of land, including losses which will be caused to the owner in connection with early termination of its obligations to the third parties, in particular lost profit;

alienation of the parcels of land, other real estate units placed on them for public requirements or based on social necessity - transition of the property right to the parcels of land, other real estate units placed on them which are in property of physical persons or legal entities, for a fee in the state-owned or utility property by their redemption or compulsory acquisition for needs of the state, territorial bulk, society in general:

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