Finland: Electronic real estate trading system planned

eBusiness news

Helsinki, 17 February, 2006 — In Finland, the Ministry of Justice wants to develop an electronic system for the sale, mortgaging, and registration of real estate. Sales would take place by using an electronic form that would include data from the title and mortgages register. The transaction could be finalised without a public notary (a so-called public certifier of a deal) or witnesses. The setting up of the system would cost EUR 3.4mn, but no decisions have been made concerning the financing of the project.