What is co-ownership in SAP RE - Real Estate Management?

SAP Term: co-ownership

• Component: RE

• Component Name: Real Estate Management

• Description: A type of property ownership that contrasts with single ownership by allowing more than one person ownership rights to a piece of real estate. In Germany there are two forms of co-ownership: Tenancy in common Each owner controls his or her share independently, for example condominium ownership. Joint ownership The owners have joint control of the property, so that one cannot act without the others, for example, heirs holding an estate.

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• Key Concepts: 
  Co-ownership in SAP RE Real Estate Management is a feature that allows multiple owners to share ownership of a property. This feature allows for the creation of a joint ownership agreement between two or more parties, which can be used to manage the rights and responsibilities of each owner. The co-ownership feature also allows for the tracking of financial transactions related to the property, such as rent payments and maintenance costs.
  
  How to use it: 
  In order to use the co-ownership feature in SAP RE Real Estate Management, users must first create a joint ownership agreement between the parties involved. This agreement should include details such as the percentage of ownership each party holds, the rights and responsibilities of each party, and any financial transactions related to the property. Once this agreement is created, users can then use the co-ownership feature to track and manage all aspects of the property’s ownership.
  
  Tips & Tricks: 
  When creating a joint ownership agreement in SAP RE Real Estate Management, it is important to ensure that all parties involved are aware of their rights and responsibilities. Additionally, it is important to ensure that all financial transactions related to the property are accurately tracked and recorded in order to avoid any potential disputes between owners.
  
  Related Information: 
  For more information on co-ownership in SAP RE Real Estate Management, please refer to the official SAP documentation at https://help.sap.com/viewer/product/RE_REAL_ESTATE_MANAGEMENT/latest/en-US.