What is 'lien' in SAP RE - Real Estate Management?

lien - Overview

• Component: RE

• Component Name: Real Estate Management

• Description: A pledge or charge related to land, residential property, and land leases. According to German law, these differ from similar rights for movable property. Liens include mortgages, real property loans and annuity charges.

lien - Details

• 
  Key Concepts: 
  A lien is a legal claim on a property that is used to secure payment of a debt or other obligation. In SAP Real Estate Management (RE), liens are used to secure payment of rent or other fees associated with a lease agreement. Liens can be created and managed in the system, and can be used to ensure that tenants are paying their rent on time. 
  
  How to use it: 
  In SAP RE, liens can be created and managed in the system. To create a lien, the user must enter the tenant’s name, the amount of the lien, and the date it was created. The system will then generate a lien document that can be printed and sent to the tenant. The lien will remain in effect until the debt is paid in full or until it is released by the user. 
  
  Tips & Tricks: 
  When creating a lien, it is important to make sure that all of the information entered is accurate and up-to-date. This will ensure that the lien is valid and enforceable. Additionally, it is important to keep track of when liens are released so that they do not remain active after they have been paid off. 
  
  Related Information: 
  For more information about liens in SAP RE, please refer to the SAP Help documentation or contact your local SAP representative.