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Q: I am a California state court receiver in a family law case. The divorcing couple owns property in Virginia and Michigan. I know, generally, that in order for me to sell the property I would have to be appointed ancillary...more
Servicers and owners of non-performing commercial loans may seek the appointment of a rent receiver to manage cash flow and keep utilities and property vendors current during the pendency of a foreclosure. Connecticut...more
Our new insightful and informative series, “Protecting Lenders: Strategic Responses to Borrower Default," is designed to provide comprehensive guidance on managing borrower defaults effectively. This four-part series covers...more
In Estate of Richards, a probate court entered an order appointing a receiver of estate property. No. 11-23-00031-CV, 2024 Tex. App. LEXIS 8626 (Tex. App.—Eastland December 12, 2024, no pet. history)....more
The New York County Supreme Court recently held that in the event of foreclosure, a receiver can be appointed, regardless of necessity, when the parties have contracted for such appointment. 24 West 57 APF LLC (“Defendant”)...more
Typically, the receiver will market the property for sale using the same methods as it would for any other commercial property. It will install signage on the property, list the property with the appropriate online commercial...more
Florida’s Uniform Commercial Real Estate Receivership Act (UCRERA) went into effect on July 1, 2020, clarifying the standards for appointment of a receiver for commercial real estate and the receiver’s powers and duties. ...more