Ways to arrange 3-dimensional control of real estates and the need for a 3D real estate system
Keywords:
real estate formation, 3D real estate, land registerAbstract
The increasing population density and the development of construction technologies have made the vertical use of real estates more widespread. However, the legislation has not kept up with the modernization of the construction industry and does not offer adequate tools to vertically share the ownership or the control of a real estate: Currently the Finnish legislation forms real estates only at ground level and does not allow property formation with 3-dimensional boundaries. Entrepreneurs are arranging 3D ownership of real estates in various ways, e.g. by setting up mutual real estate corporations or easements.
This article describes the methods used to arrange 3D control of real estate and analyzes their strengths and weaknesses. With a comparative study of the Swedish 3D legislation, the article aims at offering suggestions to alter the current legislation to suit the needs of the vertical use of real estates.
The conclusion is that the current methods to arrange 3D ownership are not sufficient enough to meet the requirements of the modern construction industry. Even though 3D real estate formation might cause some fragmentation to the real estate system, the benefits of the concept surpass its defects. Therefore, the definition of a 3D real estate should be implemented into the Finnish legal system. In addition, also the cadastral system should be renewed to support the 3D real estate formation. The Swedish system provides a good basis for preparing the legislation of 3D real estates and 3D real estate formation.
