Transformation of Leased Land Use of Agricultural Enterprises in Ukraine in Limited Land Market

The result of the long existence of legal restrictions on the agricultural land market in Ukraine was the formation of a specific leasehold system of land use. Agricultural enterprises and farms do not have land owned. Instead, the peasants who became owners of land during the distribution of collective farms, mostly do not process these parcels of land on their own, but also deprived of the right to alienate them (to sell, give, change). The study shows the development of leased land use of agricultural enterprises in Ukraine, which currently covers 16.8 million hectares of private land and about 1 million hectares of state-owned land. Since 2003, the civil law of Ukraine permitted to apply not only the lease of agricultural land, but also the emphyteusis right (the alienated right to use someone’s land for agricultural purposes), the process of transformation of lease into emphyteusis was started, especially in large agricultural holdings. The main advantages of emphyteusis as a substantive law and its attractiveness for agribusiness are considered. The suggestions on improving the legal regulation of land use under conditions of emphyteusis are given.