Real property significantly contributes to the prosperity of today’s society. Therefore, the society has paid muchattention to the real property transaction, which is often a complex procedure. In order to enable the analysis of its general structure we have focused on a particular domain, i.e. the rural land transaction in Slovenia,which allows us to reduce the complexity of the phenomena involved. The purpose of the paper is to increase our understanding on how rural land markets act in an institutional context. It is also aimed atidentifying the obstacles in rural land transactions, particularly in terms of organizational framework,which hinder the development of the rural land market. Rights, use and consequently transaction of the rural land, as the holder of specific environmental, economicand societal functions, are strongly regulated by the specific legislation and regulations of the government and local communities. The specific procedures of rural land transactions related to the agricultural land,forests and farms according to the Slovenian legislation are: the public announcement of the sale, the order ofpre-emption beneficiaries according to law, and the approval of sale from the relevant administration office. This procedure prevents the active actors in the land market, vendors and buyers, from direct communication, which is the vital mechanism of any effective property market, affecting the crucial market forces: demand and supply. In the article the UML notation is used to represent the process of rural land transactions. The emphasis is on the dynamic flow of the rural land sale process.