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Information for apartment owners

The Residential and Commercial Property Information System was introduced in 2019, and information about owner apartments and their ownership and pledges will slowly be collected in the system. Paper share certificates will be discontinued in stages starting from the beginning of 2019, and information about apartment owners will be entered in the Residential and Commercial Property Information System maintained by the National Land Survey of Finland (NLS).

New housing companies established after 1 January 2019 will automatically be entered in the Residential and Commercial Property Information System after their establishment. No share certificates will be printed, and information about apartment ownership, pledges and any restrictions will be available in the Residential and Commercial Property Information System.

Information about older housing companies established before 1 January 2019 will transfer to the Residential and Commercial Property Information System in two phases. First, housing companies need to transfer their list of shares to the Residential and Commercial Property Information System. Only after this can the ownership of a single apartment be registered in the electronic system.

The launch of the Residential and Commercial Property Information System does not require direct action from apartment owners. Individual shareholders can follow the same steps as before, until their housing company has transferred its list of shares. Ownership can still be indicated by a paper share certificate and shareholders can exercise their share-based rights, for example, at the shareholders’ meeting as before. The share certificate can still be used as security for a loan or otherwise be kept in custody at a bank.

From where can you check the status of your housing company?

When your housing company has transferred its list of shares to the Residential and Commercial Property Information System, your housing company will notify all shareholders of the transfer. You can later obtain information about whether your housing company has transferred its list of shares from your housing company or building manager. This information must also be entered in the building manager’s certificate. You can also contact NLS to check your housing company’s status.

Registration of ownership

Once the list of shares has been transferred, you can apply for the registration of your ownership and for voiding your paper share certificate from NLS.

When your housing company has transferred its list of shares to the Residential and Commercial Property Information System, it will notify all shareholders of the transfer. The transfer must be made by the end of 2023.

You need to apply for the registration of your ownership and for voiding your paper share certificate within ten years after your housing company has transferred its list of shares to the Residential and Commercial Property Information System. Registration of ownership is mandatory, when an apartment’s owner changes for the first time after the apartment’s housing company’s list of shares has been transferred in the system.

Read more about the registration of ownership

When ownership is based on an electronic registration, shareholders no longer need to maintain their paper share certificate, and they will not incur any associated costs. Furthermore, there is no risk of getting the paper share certificate misplaced or destroyed.

Registration of pledges and restrictions

Registering a pledge can only be applied for when the apartment is in the digital ownership registry.

Restricting the right of possession can already be applied for when the housing cooperative is in the Residential and Commercial Property Information System, even if the apartment does not have a digital endorsement.

Read more about the registration of pledge

Read more about the registration of restriction on the right of possession

Contact information in the Residential and Commercial Property Information System

When transferring their list of shares, housing companies must enter the mailing addresses and any email addresses of their shareholders in the Residential and Commercial Property Information System for the list of shares and for notifying their shareholders of the transfer. Housing companies may also use contact information entered in the Residential and Commercial Property Information System, for example, as delivery addresses for invitations to shareholders’ meetings. Shareholders must send notifications of any changes in contact information to the NLS customer service.

When applying for the electronic registration of ownership, you can also enter contact information (mailing address and email address) in the Residential and Commercial Property Information System for your housing company’s list of shares and notifications. If you do not enter any separate address, your address entered in the Population Information System or the Business Information System will be used as your mailing address.

Selling an apartment

If you are selling your apartment, check the to-do list for sellers.

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