{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/810/970/#45-other-presentation-matters","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"810","topic_title":"Consolidation","subtopic":"810-970","subtopic_title":"Real Estate—General","section":{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":"Undivided Interests","paragraphs":[{"citation":"810-970-45-1","para":"45-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_2938E194-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">An investment in real property may be presented by recording the undivided interest in the assets, liabilities, revenue, and expenses of the venture if all of the following conditions are met: </span></span><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_2938E2BC-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The real property is owned by <a href=\"/glossary/u/#undivided-interest\" class=\"term\" title=\"An ownership arrangement in which two or more parties jointly own property, and title is held individually to the extent of each party's interest.\"><span>undivided interests</span></a>. </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_2938E39C-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The approval of two or more of the owners is not required for decisions regarding the financing, development, sale, or operations of real estate owned. </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">c</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_2938E477-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Each investor is entitled to only its pro rata share of income. </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">d</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_2938E53E-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Each investor is responsible to pay only its pro rata share of expenses. </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">e</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_2938E5FD-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Each investor is severally liable only for indebtedness it incurs in connection with its interest in the property. </span></span></div></li></ol></div></div>","snippet":"An investment in real property may be presented by recording the undivided interest in the assets, liabilities, revenue, and expenses of the venture if all of the following conditions are met:\n(a) The real property is ow…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3c220370f739bed5e0a96e3b4e56d5e4de35caef03f96e439a957fe77b6dff4d","downloaded_from":"2026-09-10T01:33:47.563Z","last_downloaded_at":"2026-09-10T01:33:47.563Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477383","source_sha256":"f6480e42df2b0cdf2ad5022ab1ba1aa0c8ceca5c6a2714a8d58567e86f7b4f84"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dd9b17883fb420a1f9180baedc05bdd70c0f820b2a701ae3b3d2b6e235483243","downloaded_from":"2026-09-10T01:33:47.563Z","last_downloaded_at":"2026-09-10T01:33:47.563Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477383","source_sha256":"f6480e42df2b0cdf2ad5022ab1ba1aa0c8ceca5c6a2714a8d58567e86f7b4f84"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:381775a782927721b38c3a66383e818f9d42386824c26dcc5c8f41a62d7e231b","downloaded_from":"2026-09-10T01:33:47.563Z","last_downloaded_at":"2026-09-10T01:33:47.563Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477383","source_sha256":"f6480e42df2b0cdf2ad5022ab1ba1aa0c8ceca5c6a2714a8d58567e86f7b4f84"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:381775a782927721b38c3a66383e818f9d42386824c26dcc5c8f41a62d7e231b","downloaded_from":"2026-09-10T01:33:47.563Z","last_downloaded_at":"2026-09-10T01:33:47.563Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477383","source_sha256":"f6480e42df2b0cdf2ad5022ab1ba1aa0c8ceca5c6a2714a8d58567e86f7b4f84"}}