Finland Property Ownership

There are two types of title registration -- the Land Register to record the location of land, and the Property Register to record ownership.

Finland Trade Associations

Suomen Kinnteistonvalittajain Liitto of Helsinki Finland. Finland has a nationwide multiple listing service.

Finland Land Rights

Real property in Finland includes land and improvements to the land as well as growing crops and timber.The government retains certain rights in real property including the right to levy property taxes. Courtesy does not exist in Finland, however spouses have a dower right in the property of each other. The dower right may be excluded upon demand of one spouse when the other has become bankrupt.

A spouse may sell or lease the primary residence but only with the consent of the other spouse.

Finland Forms of Ownership

Real property in Finland may be owned in severalty or concurrence. Corporations and partnerships are examples of concurrent forms of ownership which may acquire, hold, and convey real estate. In some cases, the ownership of real property by foreigners or companies owned by foreigners is restricted.

Finland Real Estate Info Summary

Title & Contracts in Finland:

Contracts and deeds are typically signed in concurrence, therefore title to real property passes immediately when the sale is made.

There are two types of title registration in Finland. The location of parcels of real property are recorded in the "Land Register", while ownership is recorded in a separate "property register".

While oral contracts are generally binding in Finland a written contract is required to convey real property. Contracts can be declared invalid in one party is incapable of contracting or in cases of fraud or undue influence.

Property Taxes:

Taxes are levied against real property according to its taxable or assessed value. The tax rate varies by municipality but is typically .2% to .8%, lower for most residential properties.

Finland Mortgages & Financing

Real property in Finland can be mortgaged as security for a debt. In certain cases, a mortgage lien can be created by a creditor without the consent of the debtor. Leasehold interests may also be mortgaged. Mortgages on real property expire after ten years unless renewed by consent of both parties.