Real Estate Finland
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There are two main types of property ownership for private individuals in Finland. Direct property ownership means an individual owns the land and buildings. Indirect property ownership means an individual owns shares in a mutual real estate company that owns the land and buildings, and the owner has rights to a premises allocated in the articles. Decisions about a directly owned property are made by the owner, while an indirectly owned property is managed through shareholder meetings, boards, and property managers. Transactions of a directly owned property must follow specific legal procedures, while indirectly owned properties do not have set procedures but written agreements are recommended.
Real Estate Finland
- 1. 2 DIFFERENT TYPES OF PROPERTY OWNERSHIP IN FINLAND Ever thought of moving to Finland? Or investing into Finnish property market? If you have or you might be interested to do so in the future, take a look at this infographic. It will show you which are the two typical ways for private persons to invest into property located in Finland. Property Shares of MREC Direct propert ownership Owner owns the land and buildings on it. Indirect propert ownership Owner owns the shares of a mutual real estate compan MREC . This allows the owner to possess the premises which are allocated in the articles of association. The land and building are owned b the MREC. Ownership The owner can decide how the propert is managed and upkept in owner's own cost In MREC decisions are made b the different organs of the MREC namel : Shareholders' meeting Board Propert manager Shareholders pa charges for use and in some cases charges for financial costs to the MREC Decisions Transactions must be e ecuted according to specific procedure set b law. Otherwise transaction is not binding. There are no specific rules for procedure but it is recommended that a written agreement is made between the parties. Transactions sopimuspohja.com FOR PRIVATE PERSONS