Monday, November 13, 2006

Purchasing Real Estate in Sweden - Applicable Swedish Codes and Acts

The Land Code or Real Property Code (Jordabalken 1970:994) regulates the private real property law and contains the rules i.a. on real estate transfers, mortgages, leases and registration of ownership and mortgages.

In addition to the Real Property Code there are several other acts which come into play in connection with a purchase of real estate i.a. acts relating to various permits needed and tax laws; just to mention a few. I will mentioned them and link to them, if possible, when I refer to them in future posts.

The Planning and Building Act (Plan- och Bygglag 1987:10) contains provisions on the planning of land and water areas as well as building. The provisions aim, with due regard to the individual’s right to freedom, at promoting societal progress towards equal and good living conditions and a good and lasting sustainable environment for the benefit of the people of today’s society as well as of future generations.

Transactions involving condominiums / condos (“bostadsrättslägenheter”) are not covered in the Real Property Code but in the Tenant-Ownership Act, (Bostadsrättslagen 1991:614), which regulates the relations in the association and the obligations of the owner and the association.

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