Another way the receivership remedy is utilized is through rents and profit receiverships. A rents and profits receivership is typically used when a bank seeks to foreclose, but the property is worth less than the debt it secures. When the property is underwater a rents and profits receiver can be appointed to preserve the property and collect rents if necessary. A rentsRead More "Rents and Profits Receiverships"
When people hear the term receiver they may think of NFL Hall of Famer Jerry Rice, but a Court-Appointed Receiver is a whole other ball game. The use of Court-Appointed Receivers began in the Old English Chancery Courts and were often used to take control of an estate that did not have an heir. For example, in the 1500s when a KingRead More "What is a Court Appointed Receiver?"