Before starting the DIAS real estate transaction, you must ensure that all requirements are met.
The sellers
✔️ Private individual with legal capacity
✔️ Limited liability company
✔️ All the sellers have the same bank
Buyers
✔️ Private individual with legal capacity
✔️ Limited liability company
✔️ All the buyers have the same bank
Object of the transaction
In DIAS, you can conclude transactions for an entire property, a designated share of a property, an existing leasehold or a designated share of it as long as the following conditions are met:
✔️ Object of transaction is one property/designated share or one property leasehold/designated share
✔️ The certificate of mortgage and encumbrance does not have any restrictions on title that prevent a digital transaction (e.g. foreclosure, bankruptcy, dispute over ownership, widow’s right of possession, right of use based on a will)
✔️ The certificate of encumbrances does not include any joint mortgages
✔️ The conditions for the mortgage deeds are met
Mortgage deeds (mortgages)
| Situation | What must be ensured? |
|---|---|
The object is subject to mortgages
| All mortgage deeds must be electronic and in the name of the seller’s bank. The transfer commitment for the mortgage deeds is obtained automatically from the seller’s bank as part of the DIAS process, so there is no need to request a separate transfer commitment from the seller’s bank for the transaction. |
The mortgages are in the seller’s own name
| The seller must cancel the mortgages before initiating the transaction. In this case, the transaction is carried out as a transaction where the seller has no pledged liabilities.
|
| The object is not subject to mortgages | The DIAS transaction can be carried out normally, and no mortgage deeds are transferred in the transaction. |
Ownership and transfers
✔️ Owner information is up-to-date in the National Land Survey of Finland’s registers
✔️ The parcelling of the area into a separate property is not in progress unless NLS has confirmed that the transaction can be concluded
Other conditions
✔️ The parties have Finnish social security numbers
✔️ They use online banking credentials of a Finnish bank/a mobile certificate/Hightrust.id
✔️ The transaction is made with one deed of sale, the Property Transaction Service's deed of sale for an electronic real estate transaction is created on the basis of structured information
✔️ The transfer of ownership is always tied to one-time full payment
Considerations before the transaction
⚠️ A DIAS transaction cannot be signed with a power of attorney
⚠️ The object of the transaction cannot consist of several property or facility IDs
⚠️ The transaction cannot be made if a restriction mark prevents signing it digitally
⚠️ Banks may require that the said bank is the customer's primary bank