Reforms of land ownership relations launched after Ukraine has gained sovereignty primarily affected land ownership relations. The relevance of the topic under study ensues from the fact that under the conditions of today’s land relations reforms in the country and given the active processes which form the land market, issues of the legal regime of jointly owned land plots gain large theoretical and practical significance.

The article aims at analyzing the specifics of the procedure under which the right of joint fractional ownership to a land plot arises, with due regard for the features inherent in the object of this right.

The article emphasizes that the updated domestic land legislation has consolidated, at the level of special laws, the multi-entity ownership right to this object. Regulation of the relations under the right of joint ownership to a land plot is provided for separately. Recently, there has been an increasing interest of relevant entities with regard to streamlining the regime of the right of joint fractional ownership to a land plot, in particular, emergence of such a right for the purpose of joint economic and other activities. However, a range of issues pertaining to the grounds and the procedure according to which such a right arises remain open so far and require special attention.

The author has found that the object of the right of joint fractional ownership to a land plot may be only a single land plot which should be formed, for example, by combining several (two or more) standalone land plots into one plot which will belong to several coowners in the future.

It is established that acquisition of the ownership right to a land plot by a specific entity, i. e. transformation of the objective right to the subjective one, occurs in the presence of the grounds enshrined by law, namely – relevant legal facts. The right of joint fractional ownership to a land plot, as compared with the right of such ownership to other property objects, is characterized by certain specifics due to the peculiarity of the object-subject structure.

It is presumed that legal regulation of the relations of joint ownership right to a land plot, in particular, joint fractional ownership to this object of nature under civil and land legislation of Ukraine, creates the need for determining the relationship between applicable provisions of the said legislation. Here, we should be talking about common (civil) and special (land) legislation. It is the provisions of the latter which should ensure complete and detailed settlement of relevant relations and determine the legal regime of this property, with due regard for the specifics of a land plot as an object of right.