What a Receiver Does
A Receiver takes over a business or a property and provides preservation and practical improvements. Due to limited resources, a Receiver is usually limited in the ability to make extreme or ambitious changes to the properties and therefore is more of a caretaker or asset preserver.
Why Get a Receiver
Most Receiverships result from real estate foreclosures although on occasion a Receiver is appointed to oversee assets during a divorce proceeding, in criminal proceedings involving a business in jeopardy, or by impatient creditors. A Receiver is appointed by the court as a result of a lawsuit, and protects the assets of the parties during the suit.
How to Get a Receiver
Judge Appointment, Legal Counsel, Recommendation, Plantiff Party Requested, Motion to appoint a court receiver