After the collapse of the USSR, the transition of the Republic of Kazakhstan from an administrative-power system to a market-based economic system caused a legal need to change the property relations. Currently, as defined, one of the main reasons for the collapse of the socio-economic system in the Republic,
which was considered with the previous view of establishing socialism, was considered to be the dominance of state property relations. The first difficulties encountered in the process of privatization of the economy affected its social status. Therefore, it is necessary to change them and radically build them. Thus, this article deals with the process of privatization and its socio-economic consequences on the part of society. Today, the analysis of opinions around the concepts of privatization and property makes it necessary to determine the theoretical foundations of this complex problem.