SERVICES & APPOINTMENTS
AREAS OF PRACTICE
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Receiver
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Partition Referee
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Trustee
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Certified Mediator
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Registered Investment Advisor
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Licensed Real Estate Broker
RECEIVERSHIP SERVICES
As an independent third party individual appointed by the Court, the Receiver temporarily assumes the role of owner and thereby receives the rent, pays the operating and other expenses and performs such other functions as the Court instructs or as may be subsequently approved by the Court.
Once the Receiver's Oath and Bond have been delivered to the Court, the Receiver will inspect the property, advise and meet tenants and vendors, obtain and review records from the owner and management company, and establish the operational, maintenance and accounting procedures and systems as may be appropriate. An inventory of property controlled by the Receiver is filed with the Court within 10 to 30 days of the appointment as directed by the Court.
Monthly narrative and financial reports are submitted to the Court and the litigant parties. Special requests for the Court's and litigant parties' approval are made when necessary, i.e. capital expenditures, lease cancellations, etc. At the conclusion of the Receivership, a final accounting is submitted to the Court and the litigant parties for approval. A motion is filed with the Court to terminate the Receivership and the Court issues such an Order.
RECEIVERSHIP APPOINTMENTS
Receivership appointments may occur in a variety of types of legal actions, as follows:
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To take possession and control of real property in a foreclosure action where the real property is in danger of being lost, removed or materially damaged or where the deed of trust is in breach and there is no equity in the property.
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To collect rent under an assignment of rents provision while a non-judicial foreclosure is pending.
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To take possession of real property in an action of unlawful detainer.
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To collect and disburse rents during the redemption period, after judicial foreclosure of real property.
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To assist a creditor to inspect real property security to determine the existence of hazardous materials.
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To take possession and repair real property subject to Health and Safety code violations.
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To control, operate and wind up a corporation where the corporation has been dissolved, is insolvent, or is in imminent danger of insolvency, or has forfeited its corporate rights.
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To control property during an action between partners or others jointly owning or having an interest in any property or fund.
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To liquidate assets arising from partnership disputes or actions in partition.
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To execute upon the interest of a partner in a partnership under a charging order.
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To take possession and preserve assets pending resolution of a family law proceeding / marital dissolution.
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To enforce judgments.
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To vacate a fraudulent purchase of property by a vendor.
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To subject any property or fund to the creditor’s claim.
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To collect receivables.
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To dispose of property after a judgment, or to preserve it during the pendency of an appeal.
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To take possession and control of a business pursuant to an action by a governmental agency such as the Department of Real Estate, Department of Corporations, or SEC, etc.
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