A DIAS transaction can be completed for a housing share if the following conditions are met:
The sellers
✔️ Individual(s) with legal capacity
✔️ An undivided estate/estates
✔️ A limited liability company/companies
✔️ All the sellers have the same bank
Buyers
✔️ Individual(s) with legal capacity
✔️ A limited liability company/companies
✔️ All the buyers have the same bank
Object and ownership
✔️ Paper share certificate or electronic registration of ownership
✔️ All the shares being sold must be of the same type (paper or electronic share certificate)
✔️ When the housing company is in the Residential and Commercial Property Information System and all parties are private persons, the share to be sold must be 1/1
✔️ When the ownership of the object has been demonstrated with an electronic registration of ownership, the pledge entries must be in the name of the seller's bank. A pledge registration must not be pending when the DIAS transaction is initiated; it should already be registered in the Residential and Commercial Property Information System
Other conditions
✔️ The real estate agent acts as the broker for the transaction and initiates the transaction through the agency system
✔️ The parties have Finnish social security numbers
✔️ The parties use online banking credentials, a mobile certificate or Hightrust.id
✔️ The transaction is concluded with a single deed of sale
✔️ Ownership is tied to one-time full payment
Points to observe
⚠️ A DIAS transaction cannot be signed with a power of attorney.
⚠️ DIAS transactions cannot be made for RS objects or completed new properties.
⚠️ A DIAS transaction is not possible if the share certificate is subject to a secondary pledge to another bank.
⚠️ The banks may require that the customer’s main account is with the said bank.
If the share certificate is not held by the seller's bank as security for a loan, read more here.
Transaction of several groups of shares
Several groups of shares can be sold in DIAS with one deed of sale. However, please always check with your agency system provider whether such transactions are possible in your agency system.
The following conditions must be met in order to be able to complete a transaction involving several groups of shares with a single deed of sale:
✔️ All the groups of shares must be for the same housing company.
✔️ All the groups of shares must be of the same share type (paper or electronic share certificate).
✔️ All groups of shares must have the same sellers and buyers.
✔️ The shares of ownership do not need to be the same for different groups of shares, but they must always be clearly stated in the deed of sale.
✔️ If the housing company has transferred the information to the Residential and Commercial Property Information System, an identifier of the group of shares and a residential and commercial property extract are required for each group of shares in the transaction information.
✔️ If any of the share certificates are held by the seller, the transaction must be started using the “share certificate held by the seller” procedure and a copy of the share certificates held by the seller must be attached. Copies of share certificates used as security by a bank do not need to be attached.
Redemption clause
A DIAS transaction can be made for a housing share when the transfer of such a share is restricted by a redemption clause stated in the Articles of Association, if the purchase price is paid in one installment despite the redemption clause.
The housing company’s redemption procedure starts when the ownership is registered with NLS. In a DIAS transaction, applications are automatically sent via the Residential and Commercial Property Information System interfaces as soon as the banks have made the payments. The NLS will process these applications within approximately two weeks.
However, please note the following exception: if a party to the transaction is an estate or company, the applications must be made manually and the processing time may be longer.