A new law will affect some aspects of Ukraine's real estate situation. Law of Ukraine "On Amendments of Certain Laws of Ukraine Regarding Guaranteeing of Implementation of Rights to Real Property and Their Encumbrances at State Registration" No 4152-Vi, dated 9 December 2011 (the "Law"), came into effect on 31 December 2011.

The Law introduced amendments to legislative acts to keep the new real property title registration system in Ukraine from coming into effect until 1 January 2013.  Hence, the registration of title to buildings as well as residential and non-residential premises throughout 2012 will continue to be carried out by the local bureaus of technical inventory, and to land, by the local land resources authorities.

Bringing the new registration system into operation by 1 January 2013 may result in delays in the registration of property rights during the transition period. Accordingly, it is advisable to complete pending real estate transactions during this year.