This Act provides generally the forms of ownership and types of property in the USSR. Union and autonomous Republics are to promulgate more detailed legislation within this framework, especially regarding the possession, use and disposition of land and other natural resources on their territories. The Act defines property which may be in ownership, including land, its minerals, water, flora and fauna. The Act permits joint ventures and foreign ownership. The Act identifies the ownership rights of collective associations, and individual citizens within those collectives. The Act specifies the forms of state ownership, including, all-Union, Union Republic and autonomous Republic, its obligations and its property. The Act provides a procedure for agreement on land allocation from an autonomous area to the Union Republic of which it is a part. The Act provides a procedure for resolving land disputes among the USSR, Union Republics and autonomous areas. The Act prohibits the exercise of ownership which damages the environment. The Act provides the State's guarantee of stability in ownership regulations. Right of ownership is protected, including compensation in the event of legislative acts which terminate the right of ownership.
Authors and Publishers
Vsevolod Gnetii (LEGN)