The delegation of responsibility for territorial development to communities has been an important result of decentralization in Ukraine, which requires a comprehensive approach to asset management at the local level. Land asset management is among the key and most controversial issues in this field. The article is aimed at determining the practical ways of managing the land assets of a territorial community in terms of opening the land market in Ukraine. The article focuses on the definition of

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... practical ways to manage the land assets of the territorial community amidst the land market opening in Ukraine. The main problems that have become more acute with the intensification of land relations and the growing role of local self-government in the land assets management are argued, and the main ways to overcome them are identified. The role of inventory in obtaining complete and reliable information on land assets available in the community is determined, and the ways to increase the economic potential of territorial communities by identifying the cases of unauthorized land occupation, shadow land lease, non-use of communal land, use of nonagricultural land for agrarian purposes, and determination of unclaimed land shares (units) or land plots of deceased heritage are highlighted. The need to use integrated spatial planning of community development is revealed. Prospects for further research in this area are the use of the mechanisms proposed in the article for the development of territorial communities, in particular, with respect to the trends of decentralization and land market opening in Ukraine.