Specific registrations
REGISTRATION OF SALES
There are no notaries in the Continental European fashion in Sweden. Anyone can draft a contract.
The contract has to be in writing and must:
a) identify the property
b) the sales price must be mentioned
c) a clear statement that expresses the seller’s intention to sell has to be made and
d) both parties must sign the contract.
The seller’s signature is normally confirmed by to witnesses also signing. A contract that does not meet the formal requirements (a) to (d) above is void.
A party applying for registration of ownership must submit the acquisition document and the other documents required to substantiate the acquisition.
REGISTRATION OF MORTGAGES
Mortgages are regulated in the Land Code. The mortgage system used in Sweden is in some ways different from the mortgage systems in most other countries and has a lot in common with the German Grundschuld. In Sweden mortgaging starts with that the holder of title applies to the LR office for a mortgage certificate on a certain amount. If the application is in order and the mortgage is registered the owner either got certificate on paper or a registration in the electronic Mortgage Certificate Register.
The mortgage borrower can thereafter take the paper mortgage certificate and leave the certificate as a security for a loan from a mortgage lender, or if is an electronic mortgage certificate, consent to have the mortgage lender registered as holder of the mortgage in the Mortgage Certificate Register. The LR does not examine any claims attached to the mortgage. When debt has been paid the paper mortgage certificate is returned to the owner, or, if it is an electronic mortgage certificate, the lender is deregistered as a holder of the certificate in the Mortgage Certificate Register, and the owner can use it as a security for new loan.
REGISTRATION OF JUDICIARY CHARGES
The LR authority shall in the LR note, for example, particulars of an executive sale or expropriation which has affected a mortgage or registered right, particulars of an authority’s distribution of moneys which affects a mortgage or registered right, particulars of an action having been brought for the cancellation or reversal of acquisition of real property or of superior title to such property or particulars of real property having been attached.
A note shall be entered when notification, a certificate or a distribution list indicating the matter has been received by the LR authority. On the LR authority receiving notification to the effect that a circumstance noted previously has ceased to apply, the authority shall remove the note. The LR authority may also remove a note which is no longer of any significance.
