Changing the lessor on a lease

You can change the lessor or vendor on a lease any time during the life of the lease. The existing payment schedule is changed to the new lessor. The change is recorded for audit purposes.
Note: You must first create a lease to transfer to before initiating the lease transfer process.
  1. Select Leases.
  2. Open a lease record.
  3. Select Actions > Lease Lessor Transfer.
  4. Specify this information:
    New Lessor
    Specify the name of the new lessor.
    Transfer Date
    Specify the date of the transfer of the lease.
    New Process Level
    Specify the new process level of the lease.
  5. Click Submit.
  6. Previous lessors on a lease are known as historical vendors. You can view them by selecting Actions > View Audit Log on the lease record.