Certificate Of Ownership [R0903]

End of Period: This process can be run either interactively through this update or seleted to run as a special month-end version during EOP End of Month. As an EOP module, the process is:

EOP Only	Yes*
Frequency	Monthly
Sequential Updates	No
Skip Notes	No restrictions

*The special month-end version of this report is only available through EOP End of Month, but is otherwise the same as the interactive version, using the same processing but with selection criteria specific to End of Month.

For more information about End of Period, refer to U04 End of Period Overview.

 

The Certificate Of Ownership report [R0903] lists all assets with a missing or incorrect ownership certificate or title (UCC or Security Interest) filing. Therefore, this report may be used as an exception report, identifying assets whose ownership status is not correctly filed. Changes to the status of the ownership certificates and title filings may be entered through the Asset Maintenance update [U0210].

The report is organized by Portfolio, Company, Region, Office. The report may be accessed through the Operational report menu [R09] may be selected interactively for:

• All leases
• A portfolio
• A company
• A region
• An office
• A lease

The report may be automatically generated for each portfolio at the end of the month through the End of Period update [U0401]. Use the End of Period MODULES AND REPORTS screen under the End of Period Customizations option of the Portfolio update [U0212] to specify whether the report is created.

 

Certificate Of Ownership Selection

• ALL
  Enter X to report on all leases. Leave blank to report on a specific portfolio, company, region, and/or office.
  
  
• PORT
  Enter the number of the portfolio upon which to report. Leave blank if reporting across portfolios.

• COMP
  Enter the number of the company upon which to report. Leave blank if reporting across companies.
  
  
• REGN
  Enter the number of the region upon which to report. Leave blank if reporting across regions.

• OFFIC
  Enter the number of the office upon which to report. Leave blank if reporting across offices.

• LEASE
  Enter the number of the lease upon which to report. Leave blank if reporting across leases.

 

Certificate Of Ownership Report

The Certificate Of Ownership report [R0903] provides the following information for each asset with an incorrect or missing Ownership Certificate and/or title filing:

• LEASE
  The lease number is displayed. No lease number is shown for off lease assets.

• ASSET
  The asset number is displayed.

• LESSEE NAME
  
  
• DESCRIPTION
  The asset description is displayed.
  
  
• SERIAL NUMBER
  
  
• LEASE DATE
  The date of the lease is displayed. No lease date is shown for off lease assets.

• TITLE FILING: DATE
  The last date on which the status changed for the filing or the certificate of ownership is displayed. This date is initially the booking date of the asset. The status is changed through the Asset Maintenance update [U0210].

• TITLE FILING: STATUS
  The status of the title filing or the certificate of ownership is displayed. The status is initialized when the asset is added through the Add Asset option of the New Lease update [U0101]. The C/O status is automatically set to "Not Received" if the classification of the asset indicates a vehicle (class starts with a V). The title filing statuses are assigned by the user.

  Certificate of ownership statuses are preceded with C/O:. Title filing statuses are preceded with UCC: or SI:.

  C/O Status Exception Codes	Title Filing Status Exception Codes
  Correction Required	Expired
  Correction Sent	Filing Pending
  Not Received	Filing Pending New Owner
  	Refiling Pending

 

• TITLE FILING: ST
  The state of the title filing is displayed. This field is not applicable for certificate of ownership information.

• TITLE FILING: CNTY
  The county or city of the title filing is displayed. This field is not applicable for certificate of ownership information.
  
  
• TOTALS/GRAND TOTALS
  Page totals show the number of assets for each office.

  Region, company, portfolio, and grand totals are shown for the number of assets.

 

Additional Notes

LeasePak offers an optional Collateral module which automates the tracking process of ownership certificates and title filings.

Multiple lines of asset information are displayed if the lease has more than one asset associated with it. Also, multiple lines of C/O or title filing information are shown if an asset has multiple title filings or both C/O and title filings.

LeasePak automatically changes the filing status code(s) of an asset to "expired" on the filing expiration date, through the Collateral Initialization update [U0432]. This update is part of the Collateral module, a separately purchased module of LeasePak .

 

LeasePak 7.6a Documentation Suite

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