Frequently Asked Questions

Q:
When is a Receiver used?
A:
A Receiver may be appropriate, based upon the specific facts, values and circumstances of each case. Generally, a Receiver is appointed by the court, in the interest of fairness, justice and rights of all of the respective parties to a case.



Q:
Is a Receiver only appointed to 'watch out' for the interests of ‘one side’ or party in a case?
A:
No. In fact, the Receiver works directly under the order and authority of the Court or Judge. In some cases, there may be outside, third party interests to be protected or considered.



Q:
Why use a Receiver to sell a property. Why not just have a sale by the Sheriff or a Writ of Execution?
A:
There are a number of ways and reasons wherein a Receiver may be able to do a better job.
  • The ‘execution’ requires cash on sale
  • Prospective buyers are able to walk through and thoroughly inspect a property being sold by a Receiver
  • The Receiver can have the benefit of considering open market sales, and can list property on a Multiple Listing Service
  • The Receiver and/or his associates, agents or sub-agents can devote the time and attention required to prepare, repair, maintain and market an assigned property



Q:
Do you use a Receiver to sell a property 'fast and cheap?'
A:
A Receiver’s normal duties and direction are to try to get the best value for the benefit of the debtor, creditor and possible third party interests. The Receiver works under Court-ordered direction and authority. He does not work for any one specific party or interest.



Q:
Does a Receiver only sell managed properties?
A:
No. For instance, in an assignment involving an income producing property, the Receiver would be working to maximize income, control costs and expenses, and maintain the property until a final resolution or disposition of the situation between the parties.



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