REALWorld Law

Sale and purchase

Forms of real estate ownership

What are the categories of property right that can be acquired? Are there any interests in real estate other than exclusive ownership?

Norway

Norway

Interests in real estate ownership can be classified under Norwegian law as follows:

  • Exclusive ownership (eiendomsrett) either directly as an owner and title holder or indirectly through ownership of shares in a company that owns the property.
  • ‘Land lease/Leasehold’ (tomtefeste) confers the right to use land owned by a third party to build and/or maintain a building for a certain period of time.
  • ‘Lease’ (husleie) confers the right to use premises in a building owned by a third party for a certain amount of time.
  • ‘Joint property’ (sameie) confers the right to co-ownership of a property.
  • ‘Condominium’ (eierseksjonssameie) by way of a direct ownership share in a commercial or residential property, combined with an exclusive right of use of a unit in the property.
  • ‘Housing cooperative’ (borettslag) by way of an ownership share in a cooperative which owns a residential property, combined with an exclusive right of use of a unit in the property.
  • ‘Easement’ (servitutt) confers a restricted right to use part of a third party’s property for a certain period of time.