kiinteistöosake

A kiinteistöosake, often translated as a real estate share or property share, is a form of ownership in Finnish real estate. It is a type of share in a housing company, known as a "asunto-osakeyhtiö" or "kiinteistöosakeyhtiö." This structure is prevalent in Finland for apartment buildings and other multi-unit properties.

When an individual purchases a kiinteistöosake, they are acquiring shares in the limited liability company that owns the property. These shares grant the shareholder the right to exclusive use of a specific apartment or commercial space within the building, as defined by the company's articles of association. The shareholder does not own the physical apartment directly but rather the shares that entitle them to occupy it.

Owning a kiinteistöosake means becoming a part of the housing company. Shareholders are responsible for contributing to the maintenance and expenses of the building, typically through monthly housing company fees ("vastike"). These fees cover operating costs, repairs, and any loan repayments associated with the property. Decisions regarding the building's management, maintenance, and finances are made collectively by the shareholders at general meetings. The rights and obligations of shareholders are governed by Finnish housing company law and the specific articles of association of the company.