Institutions are made up of formal rules (constitutions, laws, and regulations) and informal
constraints (conventions and norms of behavior), and the way both are enforced. Wellspecified property rights that reward a productive and creative activity, a legal system that
enforces such laws at low cost, and internal codes of conduct that are complementary to such
formal rules are the essential underpinning to productive economy. In order to counteract the
illegal property redistribution, it is necessary to have a complex system of uniform norms and
interrelated standards of practice, such as legal framework, common policy in the field of law
enforcement and coherent policy of economic security. In the article the system of regulation
of property rights institutions in Ukraine has been analyzed and an effective option has
been suggested. They were based on the economic interest more than on administrative
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