Posted in: Bi-Weekly Receivership Education, Construction Project Receiverships

Using Receiverships to Revitalize Abandoned Construction Projects

What happens when a construction project runs out of money and the half finished skyscraper, mall, or hotel sits vacant for years?  There are two things that can happen; (1)  while everyone waits until the developer finds funds, which is unlikely; or, (2) a more practical solution is that a developer or other party with a recorded interest can seek the appointment of a receiver over the Property pursuant to California Code of Civil Procedure