The President of Ukraine, Volodymyr Zelensky, has signed bill No. 12089, which pertains to good faith purchasers. This law introduces significant changes to the period during which the state or local government bodies can reclaim property through judicial means. Instead of three years, the new period will be ten years.
This is reported by Finway
Changes in Legislation
Member of Parliament Yaroslav Zheleznyak explained that these changes do not apply to strategic objects, nature reserves, and cultural heritage. He clarified that the new provision regarding the good faith of purchasers does not extend to these categories.
“According to the business community, this law will limit unlawful actions against businesses by law enforcement agencies. Although it is fair to say that many NGOs and activists opposed the law. Therefore, it is controversial,” he wrote on Telegram.
It should be noted that on March 13, 2025, the Verkhovna Rada of Ukraine supported these amendments to the Civil Code aimed at strengthening the rights of good faith owners.
Criticism of the Bill
One of the co-founders of Monobank, Oleg Gorokhovsky, expressed critical views regarding the opposition to the bill on Telegram. He pointed out that the document was developed with the participation of the Council of Entrepreneurs and received support from key business associations.
“Currently, a manipulative petition is being circulated against bill No. 12089 (on the protection of the rights of good faith purchasers), which was prepared with the direct involvement of the Council of Entrepreneurs and supported by all leading business associations, allegedly ‘protecting forests and coastal strips,’” he emphasized.