Here’s how our Salt Lake City real estate receivers can help you:
In connection with a foreclosure or other mortgage enforcement action, a Court may appoint a receiver for seven identified reasons under the Act. A.R.S. §33-2605(B). A court also may appoint a receiver in one of four other identified circumstances under the Act. A.R.S. §33-2605(A).
A rents, issues and profits (real estate) receivership arises out of the enforcement of a deed of trust/mortgage. A receiver may be appointed to protect, preserve and secure rents during a foreclosure action. Typically, receiver appointments are completed under the specific performance provision of the deed of trust or assignment of rents clause in the loan documents; however, such a clause is not necessary for the appointment of a receiver.
A receiver may also be appointed to take possession of a property in judicial foreclosure where the property is in danger of being lost, removed or materially injured or where conditions in the deed of trust or mortgage have not been performed. In addition, a receiver may be appointed in a judicial foreclosure in the event that the property is worth less than the debt it secures.
The most common type of real estate/income property that are subject to the appointment of receiver include but are not limited to:
From duplexes to large apartment communities, our team has managed over 10,000 apartment units throughout the country. Multi-family receivership cases include sub-standard housing, luxury and environmentally compromised properties. With expertise in health & safety related cases, mold, lead paint, bedbugs, roaches and sub-standard conditions are regularly addressed.
From low-rise to mid-rise office properties, including mixed-use, FedReceiver, Inc. has handled office building receiverships with challenging lease-up issues, deferred maintenance and tenant defaults.
Our team has managed single tenant retail all the way to large anchored neighborhood shopping centers. Receivership focus has involved lease-up, CAM reconciliations, deferred maintenance, marketing plans and ADA/health & safety compliance.
NNN industrial properties include stand-alone buildings to multi-building industrial parks. Major tenant improvement projects, environmental cleanup, CAM reconciliation projects and deferred maintenace are all addressed on an as-needed basis.
The FedReceiver team has been appointed as receiver over medical office buildings, many of which pose unique challenges including maintenance standards, specialized common area requirements, parking, access issues and code compliance.
Our team has experience with small motels to luxury resort properties, including national flagged properties.
Mobile Home/Manufactured Home
Mobile home communities require specialized experience based on unique code compliance requirement. Our team has been appointed as receiver over mobile home communities thoroughout the West Coast.
Stephen Donell has been appointed as receiver over multiple equestrian properties including training/riding facilities servicing the equestrian community.
Self Storage Facility
Our team has experience in self-storage management in multiple states. Self-storage properties can pose unique challenges with security and safety issues.
Gas Station/Car Wash
FedReceiver, Inc. has assembled a team of experts with experience in managing/operating and selling gas station/carwash/C-Store Properties, with numerous receiverships involving national gas station brands.
Typically, a receiver who is appointed in a rents, issues and profits case is one that has a professional background in the operation of a business/real estate and may include attorneys, CPA’s, property managers and/or other similarly qualified professionals.
The typical life cycle of a real estate receivership varies. A case can last for less than a day and up to a year or longer, depending on many factors. Ordinarily, a real estate case lasts only a few months, pending the completion of a foreclosure action by the lender. If the underlying default is cured or a bankruptcy is filed, these would be qualifying events to terminate the receivership.3
With cases involving assets throughout the country and internationally, FedReceiver, Inc. provides nation-wide receivership services including international asset recovery.
Alameda, Butte, County of San Francisco, Contra Costa, El Dorado, Fresno, Humboldt, Imperial, Inyo, Kern, Kings, Los Angeles, Marin, Orange County, Riverside, Sacramento, San Bernadino, San Diego, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Ventura County, and the California District Court
States with cases/assets include Arizona, California, Colorado, Florida, Hawaii, Idaho, Illinois, Indiana, Massachusetts, Michigan, Montana, Nevada, Ohio, Oregon, Texas, Utah, Virginia, Washington, Wisconsin.
Who needs a Salt Lake City Real Estate Receiver?
If you are a lender, attorney, investor, government agency or city attorney, FedReceiver,Inc. provides receivership services to address your unique circumstances.
Defaulted real estate /business loans, collateral and inventory problems, contaminated property may all require the services of a receiver.
Corporate, partnership, creditor rights, bankruptcy and transactional attorneys regularly seek out the services of court-appointed receivers.
If you are a defrauded investor/consumer, various government agencies may be able to assist with investigating alleged fraud.
State/federal governmental agencies appoint receivers in connection with criminal restitution, health & safety code violation, investor and consumer fraud as well as other regulatory matters requiring the appointment of a receiver.
How we work together
From identifying problems to implementing solutions, our experienced team utilizes its decades of experience, expertise, training and resources to successfully administer its receiver, partition, provisional directorship, dissolution manager and distribution agent cases.
Please reach out via our contact page or call us at our Los Angeles corporate office. Our state and federal cases involve assets throughout the county.
Set an Appointment
An initial call will allow for an initial assessment of the proposed case.
With approximately 800 cases, FedReceiver has a vast library of exemplars including motions seeking appointment of receiver, orders appointing receiver and memorandum of points & authorities.
We offer excellent references with local and national law firms, accounting firms and clients.
Given our decades of experience and hundreds of cases, we have appeared in state/federal court and have excellent relationships with numerous courts/judges.
Get to know our expert Salt Lake City Real Estate Receivers
A family business, founded by James Donell, we are leaders in the receivership industry.
With prior experience as president of the California Receivers Forum (CRF) Los Angeles/Orange County Chapter, President of the National Association of Federal Equity Receivers (NAFER), panel members at receiver conferences, we are leaders in our industry.
Stephen J. Donell Los Angeles
President of FedReceiver, Inc., Jalmar Properties, Inc. and Donell Expert Services, Inc.
James H. Donell Los Angeles
Founder and CEO of FedReceiver, Inc. and Jalmar Properties, Inc.
Todd D. Donell Los Angeles
Executive Vice President of FedReceiver, Inc. and Jalmar Properties, Inc.
Sarah R. Bates Los Angeles
Vice President of FedReceiver, Inc. and Jalmar Properties, Inc.
Salt Lake City Real Estate Receiver FAQs
What is a court-appointed real estate receiver?
The receiver protects the property and manages it consistent with industry standards or pursuant to a court order. The appointment of the receiver does not impact how the title is held, nor does it impact the existence of a priority of liens against the property.
A court receiver is a useful tool to preserve, maintain and hopefully enhance the value of the real estate. This benefits the property owners as well as the creditors. Learn more.
What is the property of the receivership estate?
The property of the receivership estate will generally be identified in the order to appoint a receiver. However, more specifically, the property and/or assets of the receivership estate may be made up of:
- books and records
- accounts receivables, cash, and securities
- real property and intellectual property
- claims against 3rd parties
- bank accounts, business personal property, equipment, vehicles, and inventory
- and insurance policies.
Can a court receiver sell property?
Utah law permits the sale of real estate out of receivership. The sale is not final until confirmed by the court. Learn more.
How are court receivers appointed?
In Utah, a receiver is appointed by the court when one party in a lawsuit files a motion seeking the appointment of a receiver. Receivers are appointed pursuant to court order. Different courts and different judges have different rules and procedures related to the appointment of a receiver. The facts and circumstances dictate which method is utilized.
There are 3 primary ways a judge considers appointing receivers, including a real estate receiver or a partition referee. Learn more.
Does a receiver own the property?
When a receiver is appointed by the court, the receiver takes possession of the asset over which he or she is appointed. This is done pursuant to a court order. While the title is affected by the appointment of a receiver when the order appointing the receiver is recorded, the ownership of the property does not change when a court receiver is appointed. The owners are still the owners; however, the receiver has possession of the property.
Can a receiver change the locks?
At the heart of all receiverships is the receiver’s obligation and duty to take possession of the assets over which he or she is appointed. Maintaining the security of the assets is of paramount importance. Included in this process is the right to change locks. Since the receiver has possession of the property, the receiver generally has the authority to change the locks over the real estate or business. Learn more.
Can a receiver evict a tenant?
A receiver has an obligation to use reasonable business judgment in accordance with the authority granted pursuant to the order appointing the receiver to protect the interests of the property. This includes but is not limited to the need to evict tenants when it is appropriate to do so. Learn more.
Can a receiver terminate a lease or contract?
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 leases. Learn more.
Can a lender seek appointment of a receiver?
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. Learn more.
What does it mean to be a receiver of a property?
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 net proceeds until further order of the court. Learn more.
How does a real estate receiver sell real property?
The receiver must use reasonable care to sell the property at or above market rates. A fire sale at a below-market rate would be contrary to the duties and obligations of a receiver. However, many conditions will affect the value of the real estate including leases, maintenance, ability to finance, age, location, market conditions, and aesthetics. Before real estate may be sold by a receiver, the court must confirm the sale through a confirmation hearing. Once there is court approval on the request to confirm the sale, a notice of ruling is circulated, and the 60-day appeal period will begin. After the expiration of the 60-day period, title insurance may be obtained, and escrow may be closed thereafter. Learn more.
Phoenix Real Estate Receiverships
Court-appointed real estate receiverships provide commercial real estate professionals with a unique opportunity but gaining a solid understanding of the nuts and bolts is essential to success. With more than 20 years of experience administering over 700 receiverships in state and federal court, Stephen Donell, CCIM, president of FedReceiver, Inc., shares his in-the-trenches experience navigating the complexities of this type of transaction and how brokers can best position themselves to work with receivers.
Review the chapter authored by Mr. Donell
Reviving the Financially Distressed Business
Reviving The Financially Distressed Business is the essential guide for business owners and corporate leaders whose companies are under—or anticipating—financial difficulties. See Chapter 11, Receiverships, written by Court Receiver Stephen Donell, CCIM, CPM
Steve Donell’s contribution to the book “Reviving a Financially Distressed Business” reflects not only his expertise as a receiver, but his sound judgment on how receivership can be used to effectively advance a financially troubled business.”
– Brian Davidoff, Esq. Author and Editor