Kiinnitysurat

Kiinnitysurat is a term used in Finnish legal practice to refer to documents that evidence a security interest (kiinnitys) granted to a creditor to secure a debt or obligation. The concept covers both real estate liens and liens on movable collateral, such as equipment or inventory, depending on the agreement between the parties.

In the context of real property, kiinnitysurat commonly relate to mortgages on a property. The security right is created by agreement and is typically made enforceable through registration in the appropriate national or regional land and property registries. For movable collateral, kiinnitysurat may describe the secured claim and the collateral that backs it, with enforcement rights arising from the underlying contract and applicable security regimes.

Priority among multiple kiinnitysurat on the same asset is generally determined by the order of registration or the date of the security instrument. This means that, in case of multiple liens, earlier entries or earlier effective dates usually have priority over later ones, subject to any statutory exceptions.

Enforcement of kiinnitysurat follows the rules governing security interests in Finnish law. If the debtor fails to fulfill the obligation, a creditor may realize the security through specified enforcement procedures, which can include sale of the collateral or other remedies provided by law. Upon satisfaction of the secured claim, the lien is released or discharged through a formal process.

Kiinnitysurat are commonly used in banking and financing to secure loans, leases, and supplier credits. They provide a legally recognized mechanism to protect creditors while outlining the scope and terms of the secured interest. See also: mortgage, lien, security interest, registration.