Category: Court Receiverships

A California court-appointed receiver may hire counsel. However, pursuant to California Rules of Court, the receiver must not employ an attorney without the approval of the court. The application for approval to employ an attorney must be in writing and must include the following: ·   Reason the court receiver needs to retain counsel; ·…

When a real estate receiver is appointed by the court, the receiver takes possession of the real property which is the subject of the receiver’s action. The receiver must comply with all of the same codes and ordinances that any other landlord or owner is subject to. If a tenant defaults on its lease, the…

In certain circumstances, the receiver may reject a lease or contract. The appointment of the receiver is an equitable remedy and the Court may make decisions based on the equities. Similarly, the receiver may be empowered to make decisions based on the equity and fairness of the situation notwithstanding the existence of specific contracts and…

When confronting commercial loan defaults and protecting distressed assets, lenders and servicers often rely on one of four common remedies: workouts, receiverships, deeds in lieu, and foreclosures. Among these, the role of receivers is growing at an accelerated pace, as lenders pursue receivership appointments to minimize losses, preserve property values, and avoid liability exposure. Lenders…

A receiver is an agent of the Court. In order for a receiver to be appointed, a lawsuit must be filed. A receiver takes legal possession of the property but the receiver does not become the owner of the property. The receiver is generally empowered to collect rent, manage the property, perform repairs and hold…

The receiver is an agent, officer, or arm of the Court. By definition, a receiver is neutral and must not have any financial interest in the asset over which the receiver is appointed. There are no licenses that receivers are required to possess. However, there are many considerations regarding the qualifications of a receiver. The…

When a receiver is appointed, he or she is appointed by an order issued by the judge. An underlying lawsuit must be filed prior to the appointment of a receiver. The appointment of the receiver is an equitable remedy. There are many types of receiverships including real estate receivership, partnership dispute receivership, equity receivership, divorce…

When the court appoints a receiver in California, Nevada, Arizona, and throughout the country, this sets off a series of events that will impact the asset over which the receiver has been appointed. The duties and responsibilities of the receiver are identified in the order appointing the receiver. Depending upon the type of case, which…

Read about the duties and responsibilities of a Los Angeles Court Receiver.