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Ownership Type
Use this setting to designate the person or entity who owns an account, asset, or liability.
In the Net Worth report, you can sort accounts with ownership assigned by Ownership Type to show all accounts owned by specific individuals, their family jointly, or accounts associated with their Household but not owned directly.
Choose desired the Ownership Type applicable for the account. You can choose the following ownership types:
Joint.For accounts held by the entire Household, such as a mortgage or joint brokerage account.
Individual.For accounts held by one individual, such as a 401(k), IRA, or individual brokerage account. You can also use this for individually held liabilities such as student loans.
Other.For accounts with ownership other than joint or individual, such as a trust account or an educational account. For example, if three young children in a Household share an educational trust not intended for use by the parents, you may want to represent it in a Household's total net worth because it will impact college savings plans, but it neither belongs to one individual nor to every member of the Household.
For more information about net worth, see Net Worth Report. For more information about assets and liabilities, visit Assets and Liabilities.