asuntoosakejärjestely

Asuntoosakejärjestely, often translated as housing company arrangement or apartment ownership arrangement, is a fundamental concept in Finnish real estate law. It refers to the legal framework governing housing companies, known as asunto-osakeyhtiö. This arrangement essentially divides ownership of a property, typically an apartment building, into shares. Each share represents a specific apartment or business premises within the building and confers a right to occupy and use that designated space.

The core of the asuntoosakejärjestely lies in the concept of co-ownership of the building and the land it stands on, while individual ownership is limited to the shares. Shareholders collectively own the housing company, which in turn owns the property. The housing company is responsible for the maintenance, repairs, and overall management of the building and its common areas. Decisions regarding the company are made by shareholders at general meetings, where voting rights are usually proportional to the number of shares held.

Shareholders are obligated to contribute to the housing company's expenses, typically through monthly charges or fees known as vastike. These fees cover operational costs, maintenance, and potential future renovations. Buying or selling a share in a housing company is the standard method of transferring ownership of an apartment in Finland, rather than directly buying the physical apartment itself. This system aims to provide a clear and organized structure for shared property ownership and management.