The Ukrainian parliament with 235 supporting votes on July 5, 2012 endorsed the law on amendments to the Land Code of Ukraine regarding the procedure for holding land auctions.
The law says that after land auctions a sale and purchase, leasing or long-term lease agreement for the land plot is signed with the bidder who offered the highest price for the land plot or the highest fee for the use of the land plot.
The law states that land plots in state or municipal ownership, or the ownership rights to the land, are sold only at land auctions. Under the law, a prior option of purchase cannot apply to land auctions.
The law stipulates that land plots in state or municipal ownership with facilities on them that are to be privatized are sold at land auctions by state privatization bodies under procedures set in the Land Code.
The law also establishes that organizers of land auctions are individuals or companies that own land plots, the Supreme Council of Crimea, executive power bodies, or local government bodies that hold state or municipal rights to land plots.
