FIN GVT Title and Mortgage Register


On Jun. 17, FIN GVT consulted on draft decree on use of the register.


  • Ministry of Justice (FIN MoJ) issued a draft decree from FIN GVT amending the decree on the Title and Mortgage Register, seeking consultation feedback on the proposals.
  • Document dated Jun. 12, 2024, and was then received on Jun. 12 due to a fixed feed.
  • Follows, FIN MoJ Apr. 2024 proposed changes to real estate ownership law, #209159.
  • Consultation Overview
  • FIN GVT's motion before FIN PRL to amend land code, law on sales confirmations and the law on an apartment information system contained within new law HE 24/2024 vp.
  • It is proposed to add provisions to land code on the registration of a non-mortgaging commitment given by owner of a commercial property in Title and Mortgage Register.
  • Purpose of option to record a non-pledge commitment is to ensure third-party binding of commitments, customary in lending, and to take account in recording procedure.
  • Keeping the Title and Mortgage Register in an appropriate manner requires that the regulation issued on the Title and Mortgage Register provides for other rights and restrictions to be recorded in register, and non-pledge commitment of information.
  • Aim of Legislation
  • Proposal proposes to amend Decree on the Title and Mortgage Register (960/1996).
  • The decree would be issued on the basis of chapter 7, section 2, subsection 3 and chapter 21, section 1, subsection 1 of the current land charter legislation (540/1995).
  • Aim of proposal is to ensure the necessary information is recorded in the Title and Mortgage Register regarding initiation of application for non-mortgaging commitment.
  • In addition, goal is to ensure the necessary information regarding the non-mortgage commitment appears on any encumbrance certificate from Title and Mortgage Register.
  • In addition, the purpose of presentation is to ensure that the regulation of the decree on Title and Mortgage Register meets the requirements regarding any personal data.
  • Effectiveness
  • Ministry of Justice requested opinions on draft regulation, no later than Aug. 23, 2024.
  • Oct. 2024 Decree Approved
  • On Oct. 24, 2024, FIN GVT approved the draft decree amending the decree on the Title and Mortgage Register; entry into force on Nov. 1, 2024, as the real estate law.

Regulators FIN GVT; FIN MoJ
Entity Types Bank; MG Orig; Servicer
Reference PR, 10/24/2024; CP VN/16761/2024, Bill HE 24/2024 vp, Decree 960/1996; Law 540/1995; PR 6/17/2024
Functions Compliance; Financial; Legal; Privacy; Registration/Licensing; Reporting; Risk; Technology
Countries Finland
Category
State
Products ABS; Banking; Loan; Mortgage; Securities
Regions EMEA
Rule Type Final
Rule Date 6/17/2024
Effective Date 11/1/2024
Rule Id 216199
Linked to N/A
Reg. Last Update 10/24/2024
Report Section EU

Last substantive update on 10/29/2024