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Finland – October 2024
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Real estate transactions in Finland: negative pledge can now be registered in the title and mortgage register
In April 2024 the Finnish government put forth a set of revisions (Government Proposal HE 24/2024 vp) to the Finnish Land Code (in Finnish: maakaari) aiming to modernise and enhance the legal framework governing real estate transactions. Among the proposed amendments is the possibility to officially record a negative pledge clause in the Finnish real estate title and mortgage register (TMR) (lainhuuto- ja kiinnitysrekisteri) maintained by the National Land Survey of Finland (NLS) (Maanmittauslaitos). The proposed amendment marks an improvement to the current state where it has not been possible to register such clauses.
The Finnish title and mortgage register
The TMR is a public register which includes information on the ownership encumbrances and special rights in respect of a real estate property. Registration is required for the legal transfer...
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