What is legal owner in SAP RE-FX - Flexible Real Estate Management?

SAP Term: legal owner

• Component: RE-FX

• Component Name: Flexible Real Estate Management

• Description: Under German law, a legal owner can be recorded in addition to the owner entered in section I of the land register. Differences can arise between the legal owner and the owner entered in the land register, for example when a company is renamed and the land register was not yet updated.

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• Key Concepts: 
  The legal owner in SAP RE-FX Flexible Real Estate Management is the person or entity that has the legal right to use a property. This could be an individual, a company, or a government agency. The legal owner is responsible for all legal obligations associated with the property, such as taxes, insurance, and maintenance. 
  
  How to use it: 
  In SAP RE-FX Flexible Real Estate Management, the legal owner is entered into the system when a property is created. This information can be found in the “Legal Owner” tab of the property record. The legal owner can also be changed at any time by updating the information in this tab. 
  
  Tips & Tricks: 
  It is important to keep the legal owner information up-to-date in SAP RE-FX Flexible Real Estate Management. This will ensure that all legal obligations associated with the property are met and that any changes in ownership are reflected in the system. 
  
  Related Information: 
  The legal owner information in SAP RE-FX Flexible Real Estate Management is used to generate reports and track financial transactions related to the property. It is also used to ensure that all taxes and fees associated with the property are paid on time.