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

SAP Term: joint ownership

• Component: RE

• Component Name: Real Estate Management

• Description: German law A form of ownership for land whereby: A piece of land belongs to several persons. The shares of the individual persons are tied to the common interest. Each individual person has a share of the value of the property only, rather than a right to a portion of the actual land. In Germany this share is recorded in section I of the land register.

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• Key Concepts: 
  Joint ownership in SAP Real Estate Management (RE-FX) is a feature that allows multiple owners to share ownership of a property. This feature allows for the creation of joint ownership contracts, which define the rights and obligations of each owner. The joint ownership contract also defines the percentage of ownership each owner has in the property. 
  
  How to use it: 
  In order to use joint ownership in SAP RE-FX, you must first create a joint ownership contract. This contract must include the names of all owners, their respective percentages of ownership, and any other relevant information. Once the contract is created, it can be used to assign joint ownership to a property. This can be done by selecting the “Joint Ownership” option when creating a new property or editing an existing one. 
  
  Tips & Tricks: 
  When creating a joint ownership contract, it is important to ensure that all owners are listed correctly and that their respective percentages of ownership are accurate. Additionally, it is important to ensure that all relevant information is included in the contract, such as any restrictions or special conditions that may apply. 
  
  Related Information: 
  For more information on joint ownership in SAP RE-FX, please refer to the official SAP documentation at https://help.sap.com/viewer/product/SAP_REFX/latest/en-US.