ILN: BUYING AND SELLING REAL ESTATE - AN INTERNATIONAL GUIDE

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[BUYING AND SELLING REAL ESTATE IN UKRAINE]

The co-ownership can be either shared (when each co-owner has determined a share in co-ownership) or joint (when the co- owners’ shares in co -ownership are not specifically determined, e.g., co- ownership of spouses). III. Restrictions for foreign investors Under the current laws of Ukraine, foreign investors are limited in land plots acquisition. For non-agricultural land: • foreign individuals are allowed to acquire ownership rights to non- agricultural land plots: o within settlements; o outside settlements where real

IV. Data and documents on titles to real estate Prior to concluding a sale and purchase agreement (hereinafter – “ SPA ”) of real estate, it is recommended that parties to the transaction obtain valid and up-to-date information about the real estate object in question, verify title to it and existence of possible encumbrances as well as other details related to the real estate object. In Ukraine, the right of ownership (as well as other rights to real estate), encumbrances of these rights, their commencement, transfer, and termination are subject to state registration in the Ukrainian State Register of Proprietary Rights to Real Estate (hereinafter – the “ Register ”). State registration in the Register is considered to be an official recognition and confirmation by the state of the facts of acquisition, change or termination of proprietary rights to real estate and encumbrances of such rights. Information on proprietary rights, and encumbrances of proprietary rights recorded in the Register shall be considered reliable and may be used in a dispute with a third party until the state registration of termination of such rights, and encumbrances within the procedure prescribed by the applicable laws on real estate. Information on registered rights to real estate and their encumbrances contained in the Register is open, publicly available and is charged for. For individuals and legal entities, information on a real estate object and the subject of proprietary right is provided in electronic form through the official website of the Ministry of Justice of Ukraine (https://online.minjust.gov.ua/rrp/), subject to identification of such person (individual or legal entity) by using an electronic digital signature or other alternative mean of identification of a person, or in paper form.

estate objects belonging to such foreign individuals on private ownership title are located.

• foreign legal entities (established and registered according to foreign state legislation) are allowed to acquire ownership rights to non-agricultural land plots: o within settlements in the case of acquisition of real estate objects and for construction of objects related to business activities in Ukraine; o outside settlements in the case of acquisition of real estate objects. For agricultural lands, foreign investors are currently prohibited to acquire (directly or indirectly) agricultural land plots in Ukraine. However, subject to a positive decision of a referendum, foreign investors (with certain exceptions) may be provided with an opportunity to acquire agricultural land through legal entities established and registered under the laws of Ukraine.

ILN Real Estate Group – Buying and Selling Real Estate Series

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