“The Rada supported the draft law on the protection of bona fide purchasers: what will change? The Verkhovna Rada adopted in the first reading draft law No. 12089 on strengthening the protection of the rights of bona fide purchasers. The document establishes a 10-year period for contesting the illegal acquisition of property and provides compensation mechanisms.”, — write on: unn.ua
“The council adopted in the first reading the draft law #12089 “on a bona fide acquirer”, – Zheleznyak wrote.
According to the people’s deputy, the document stipulates a time limit for the state and the community to apply to the court with a claim to challenge court decisions, which the state and the community as land owners were not aware of. 246 people’s representatives voted for the bill.
According to the explanatory note to the document, the adoption of the draft law will provide a proper basis for law enforcement in cases related to claiming property from a bona fide buyer. In addition, it will resolve the issue of compensation to a bona fide purchaser when claiming property in favor of the state or territorial community and further compensation for damages at the expense of guilty persons in favor of the state or territorial community.
The day before, the Union of Ukrainian Entrepreneurs called for the immediate adoption of draft law No. 12089.
As indicated in the SUP, the document:
- Establishes a 10-year statute of limitations for challenging a wrongful acquisition of property, significantly longer than the standard statute of limitations of 3 years. This gives law enforcement agencies enough time to verify the legality of the purchase.
- It does not apply to objects of critical infrastructure, strategic lands, objects of cultural heritage and nature reserve fund, which is especially important in the conditions of war.
- For the first time, it provides for the responsibility of state bodies and local self-government bodies for the allocation of land. They will be required to provide compensation for the market value of the property, and lawsuits may be directed at specific individuals who made illegal decisions.
- Does not apply to fraudulent schemes or those who knew about the dishonesty of the grounds for acquiring the property.
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