As part of completing any disposition transaction, the following will also need to be completed by the relevant internal departments:
A. Account Receiving: Determine the account receiving proceeds of the sale and coordinate this with accounting.
B. Expenses: Address transactional expenses and which account they will be paid from.
C. Transmission: Real Estate Services will work with accounting to transmit all relevant transactional data, revenue and expenses in order to correctly classify the revenue and expenses and complete the fixed asset system update to reflect the disposition of the property or any relevant adjustments to property basis.
D. Documentation; Recording: Real Estate Services will ensure that proper documentation and recording of documents/contracts is achieved, including recording of all relevant legal documents related to the transaction in the City and County Recorders' Offices, as appropriate, and maintaining paper and electronic files on the transaction. (2019 Compilation)