The main reasons for the appropriation of the land capital of the Ukrainian nation are revealed. It is proved that further development of balanced and transparent market land relations and nature management — for the benefit of the citizens of Ukraine, requires the delimitation of the functional validity of the constitutional right of ownership of «land» — to two different «objects» and to respectively different «subjects» of such rights, namely: land and its natural resources (subsoil, soils, forests, airspace, water and other resources) as natural objects of property of the Ukrainian people (all citizens are national subjects) — the main national wealth, what is under the special protection of the state and is the main natural (land) capital of the nation, and — can not be the object of sale and is not subject to alienation by anyone, for the benefit of anyone and in any way, as well as land ( borders) as objects of civil rights owned by citizens, legal entities or the state (equal subjects) and are the land capital of their owners and, on the contrary, may be subject to sale, lease, collateral. At the same time, it was found that the subjects of ownership (private, communal and state) of the land (land) are equal among themselves and before the law and cannot compete with the ownership of the Ukrainian people on natural objects (land). The mechanisms of the constitutional norm for exercising (not possessing and disposing of) natural objects of property of the Ukrainian people — on a paid basis — according to the established regulations, are disclosed. We propose to approve, drafted by us, the draft Law of Ukraine «On the right to use natural objects of property rights of the Ukrainian people», which also takes into account the «axiom», in which the value of the natural object can not be less than the value of the land. In the process of completing land reform in Ukraine, it is proposed to fully implement the constitutional formula: «The state provides protection of the rights of all subjects of property and economic rights, social orientation of the economy», which will enhance the projected economic, environmental and social effect for the benefit of all citizens of Ukraine. It is proved that this formula prompts first of all to apply special mechanisms of formation of sustainable land uses as integral economic units on agricultural lands, which will become full-fledged subjects of property rights and management (without intermediaries), through the legitimate use of natural property rights of the Ukrainian people. It seems that only on such an accomplished basis will it be possible to start forming a new draft law «On the circulation of agricultural land».