Definition of "Receiver"

Michael Pheulpin real estate agent
Michael Pheulpin, Real Estate Agent RE/MAX One

Judicial appointed person who takes possession, but not the title, to real estate during a bankruptcy process referred to as a receivership or a foreclosure proceeding. The receiver is responsible for managing the affairs of the business prudently including collecting funds, paying bills, and carrying out normal business operations. The receiver operates under court direction and may return the real estate back to a solvent status

 

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