The California Code of Civil Procedure Section 564 lists many of the traditional types of cases in which receivers may be appointed. They include, but are not limited to, the following: Preservation of a common fund or property in dispute and in danger of injury or dissipation;Rents, Issues and Profits (Real Estate);Substandard Housing – The Read More »
What are some of the qualities that make a good court-appointed receiver?
The administration of receivership estates takes specific skills, training, and experience. Receiverships involve litigation and oftentimes unique asset types. A good court receiver will have a good command of the applicable codes, statutes, and ordinances governing the appointment and administration process of the receivership estate. The receiver may also have requisite licenses and professional designations depending upon the type of asset over which he or she is appointed.
For example, if a receiver is appointed over an assisted living facility in the state of California, a well-qualified court-appointed receiver may hold an RCFE. In addition, if a court receiver is appointed over real estate, qualifications such as a real estate broker’s license or certified property manager designation will assist the receiver in making informed decisions. The receiver should also have excellent negotiation skills as well as typical traits of mediators. A receiver is neutral. The receiver often is in the middle of disputes between parties and receivers may provide valuable services in assisting in mediating or negotiating with all parties to effectuate a resolution of the case. Finally, effective receivers are confident, honest, knowledgeable, dedicated, skilled in the operation of businesses or real estate, and respected leaders in their field.
A receivership can be structured in a variety of ways based on the nature of the dispute, the goals and objectives of the parties, the type of asset(s) that will be placed under the control of a receiver as well as the ruling of the court. There are two core types of receiverships – a Read More »