property or building status

Property or buildings can have the status of owned, leased, sold, or neither.

Owned property or buildings are assigned a system-generated Ownership Transaction ID when you set the Transaction Status to 'Owned" on the Ownership tab of the Add/Edit Wizard for that building or property.
Leased property or buildings are associated with a lease that has the Is Signed? field set to Yes. You can set the Is Signed? field using any of the Add/Edit tasks in the Portfolio or Lease Administration applications.
Sold property or buildings have the Transaction Status set to 'Disposed.' in the Ownership Transaction section of the Building, Structure, or Land tabs of the Add/Edit Wizard.
If none of these conditions apply to the property, its status is listed as 'Neither'. For example, a property that has its Transaction Status set to 'Pipeline' in the Ownership Transaction section of the Properties tab (Add/Edit Wizard task) would have a status of Neither, as would a leased property that has a lease that has not yet been signed (the Is Signed? field is set to No).