If a business partner is no more valid then there is no way to search for the documents which are assigned to this business partner or change the ownership of the document.
Feature:
This feature enables you to edit or display any document in Supplier Relationship Management (SAP SRM) that is assigned to a business partner who is terminated or whose role has become inconsistent in the SAP SRM org structure. This feature is available from SAP SRM 703 Support Package 06.
Allows New business partner to be assigned to a SRM document in case the existing partner is terminated or becomes inconsistent in SRM HR Organization. Thus, allows to create Follow-on documents to be created for documents containing old business partner.
This feature also helps us to track transfer of SRM documents from old Business Partner to new Business Partner.
Information:
To use the feature, you have to first activate the Business Function SRM_CONT_IMPR_3 and then activate the Customizing switch Inconsistent Busines Partner handling(SRM_703_TERMIN_EMP) under SRM Server-> Continuous Improvement-> Activate/Deactivate Inconsistent Business Partner Handling.
For complete details about SAP SRM 7.03 refer: SAP SRM 7.03