Receiverships : Property Management
IAG’s principals have experience with over 100 receivership cases involving special servicers, small and large financial institutions, private note buyers, private equity firms and respective counsel for all asset classes including multifamily, retail, office and industrial properties.
IAG’s principals’ extensive experience of court procedures & reporting, receivership court orders, property takeover and accounting provides the benefit of a one stop shop and a single source for receivership and receivership property management.
Acting as Receiver and Receivership management are IAG’s specialties, and consists of, but are not limited to:
- Proficiency with judicial council form and custom written receivership court orders
- Receiver's property takeover
- Receiver's asset inspection and intake report
- Receiver's inventory report
- Receiver's detailed monthly billings & reporting
- Receiver's final account & report for discharge
- Receivership commercial leasing & dispositions
- Ex-parte applications & notice motions to sell and/or lease the receivership estate
- Stipulations to sell and/or lease the receivership estate
- Court approval to expand the court order & receiver's authority
- Notice of entry of order
- Purchase & Sale negotiations to sell the receivership estate
- Vast experience relating to title issues of disposing receivership estates
- Lease negotiation, preparation and execution by receiver
- Vast network of brokers for receivership dispositions and leasing
What is a Receiver?
A receiver is an officer, agent, arm of, and caretaker of the property for the court, and he/she represents the court appointing him/her, and he/she is the medium through with the court acts. A receiver is a neutral fiduciary appointed by the court, both state and federal, to take control and possession of all forms of assets involved in contentious litigation for the purpose of preserving and maintaining the assets pending the conclusion of the litigation, or to effect the sale of the assets to realize cash and to hold the same pending further court order.
Why is a Receiver needed?
To provide services for securing assets on behalf of the Court while simultaneously providing experienced, hands‐on oversight of day‐to‐day operations.
What duties does the Receiver have?
A Receiver's duties and responsibilities are expressly set by the courts, principally in its appointing order.