This Law aims at developing Agricultural Land Reserves as a result of the privatization of state-owned agricultural land, rational land tenure, and supporting market development for land. The following categories of state-owned land shall not be subject to privatization: (a) pastures; (b) cattle driveways; (c) water reserve lands, other than artificial fishery ponds and the general water-use category land utilized for agricultural purposes in accordance with the Law of Georgia on Water; (d) Forest Reserve land utilized for agricultural purposes; (e) recreational land; (f) land pertaining to historic, cultural, natural and religious monuments; (g) land belonging to protected territories; (h) agricultural land designated for the Reform Fund in the Ajarian Autonomous Republic; and (i) agricultural lands being used by state-financed institutions and legal persons of public law. When privatizing state-owned agricultural land by a special or open auction, or privatizing leased land through direct sale, the territorial agencies of the Ministry of Economic Development of Georgia shall work out a purchase deed for land and other real estate, which shall provide the basis for recording the property right into the Public Register. The property right and hypothecation (where available) to/on agricultural land and other real estate shall be registered jointly, in the form of initial registration.
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