The article concerns the basic legal documents regulating land relations in Ukraine. These are, in particular, a Land Code of Ukraine, implemented on 1 January, 2002 and the laws "On Land Management", "On Land Protection", "On state control over land use and protection", "On Land Valuation" "On the state examination of land exploitation documents", "On state registration of rights to immovable property and their limitations" taken to the Code development.

These components of the organizational and legal framework of the land market, as defined in the Constitution of Ukraine, the Land Code of Ukraine and other legislative acts balancing the structure of the organizational and legal mechanism for land market should include: a) the institution of land ownership in its multiple forms; b) an effective system of state registration of rights to land and other property; c) legal support for fair (market) evaluation of land; d) favorable "legal framework" for land market circulation.

Types of civil contracts regulating market circulation of land and land ownership transfer are highlighted in the paper.

These kinds of civil contracts are two relatively separate segments of the land market, i.e. land plots market (to acquire their ownership) and land rental market (to acquire the right to temporary paid use). Thus, the land market determines their prices level and the land rental market – the level of land rent.

The paper defined the benchmarks of the legal market model which should be based on: a) providing general public, especially farmers, access to the land in order to meet their needs for land plots for individual housing and farming; b) to prevent excessive concentration of land owned by citizens and legal entities; c) to create a favorable investment "climate" for both domestic and foreign businesses; d) prohibition of agricultural land privatization for commercial agricultural production conducted by foreign individuals and legal entities. It is proved that these guidelines should be enshrined in the law on agricultural land market.

There has been determined that solving the problem of legal personality implementation in land property relations requires a balanced approach under the current conditions of land reform, the completion of land privatization and the introduction of a new market policy. In particular, lifting of the moratorium on land sales is one of the key actions for the reforms promoting. Yet, legal framework should have been formed by that time which is the framework within which all the players will have to operate on the land market. Otherwise, total chaos may start among the landowners. Fair price for the land and the products grown on it should be defined by this time. Active use of the the futures mechanism will streamline the market, guarantee fixed supply and demand, hedge the risks of price fluctuations, which is especially important in Ukrainian realities. Farmers will not just get the market, but what they really seek – access to cheap resources and liquid market. Among other things, it will solve an important social problem as well – it will enable to form the rural middle class.

Thus, land reform, preservation of land as a natural resource needs creating mechanisms and instruments for stimulating effective land management, forming information network on land use and so on. It is necessary to complete the legislative regulatory and infrastructural environment for the moratorium cancelling, which will facilitate the redistribution of agricultural land for a more effective owner and provide further intensive development of the agrarian sector of Ukraine. The functioning of the agricultural land market is an important step for the further socio-economic development of Ukraine, including rural areas.

Keywords: land, property rights, legal support, civil contract, the land market.