1. Sort of registrations or records. Please, describe your LR system criteria regarding the type of registration applied.
In Finland LR information system is based on the following taxonomy: A (Cadastre) and BC (Land Register). Property details (e.g. location, area, different encumbrances) are found in Cadastre and ownership/mortgage information in LR. Please see more detailed in Chapter VIII.
The applications for registration, information on their consideration and the registration decisions shall be entered into LR. In addition, information on execution, precautionary measures and the bankruptcy of the titleholder of the real estate, as well as other information on rights to and encumbrances over the real estate, if they by virtue of Code of Real Estate or another Act or Decree are to be notified to the register authority, shall be entered into the Cadastre/LR when notified.
Customer must provide copies of documents in addition to the originals. Some are archived permanently (e.g. decisions, applications and title deeds) while others are archived only a designated term defined in the Archive Plan.
2. Deadlines for registration. Must land registrars or LR offices make the registrations or entries requested within deadlines? Please, if applicable indicate which are.
A registration becomes pending when the application has been presented or delivered to the competent register authority. The application shall be accepted to become pending, even if unaccompanied by a tax receipt. An entry on the pending registration shall be made in the LR system without delay (within the same day).
3. Registration fees. Please, describe the main features of payment of LR fees. If you find it useful, suggest an example of registration fees of a sale of a property valued in € 100.000 and if it’s possible a mortgage.
At the moment registration fees are title deed specific with some exceptions. There are guidelines for determination of the fees but yet there is some variation between the offices. Due to this variation a working group has been established to assess guidelines thoroughly.
Sale of a property valued € 100.000 + € 100.000 mortgage
Transfer tax (4% of the purchase price) must be paid before registration
Registration of Title = 104 Euros
Registration of € 100.000 Mortgage = 31 Euros