Property dispositions is a simple process that identifies the property that will be disposed and provides the justification/reason for the disposition. Once approved, the property-ownership status changes to “Disposed”.
The Property Disposition process is used when a property (Building, Land or Linear Asset) is disposed or sold and is no longer party of the portfolio. The process allows the requestor to submit a request and specify which property to be disposed and the reasons. The default workflow allows the request to be reviewed and either approved or rejected. Once approved, the selected property Ownership Status is then changed to “Disposed”.