Sale of California real property by state court receivers
In California, a state court receiver may provide tremendous benefits to parties in litigation by selling the property in dispute. There are many benefits to appointed receivership sales, including lack of lender and/or owner liability, since the receiver is the actual seller, being able to sell “as-is” without any representations or warranties to buyers and is some cases, being able to sell free and clear of liens, in order of priority and with the liens attaching to the proceeds of sale. In situations where partnership disputes arise, a receiver can obtain direction from the court and proceed with sale when the litigants otherwise might not ever be in a position to make a decision. Finally, a receiver may sell real property through the enforcement of a judgment, thereby providing benefit to the judgment creditor.
The California Code of Civil Procedure Section 568.5 establishes a procedure whereby a receiver may sell real or personal property through a “public sale” process and after proper notice and marketing, in order to ensure that the property is exposed to the widest possible audience. This will help to ensure that the highest possible price is achieved. While there is some disagreement as to whether a limited purpose receiver has the proper authority to sell real property, courts approve such sales on a regular basis.
The receivers at FedReceiver, Inc. have sold over a hundred properties via court approved procedures. With customized purchase and sale agreements, escrow instructions and relationships with title and escrow firms that understand the process, FedReceiver, Inc. is well-positioned to take advantage of this very valuable tool. Properties sold include single family homes, condos, apartments, retail, industrial, office, and special purpose properties throughout the United States.
If you are in need of a court appointed receiver, contact the specialists at FedReceiver ,Inc. Our experienced team will handle your case with the upmost care and professionalism. Call us today at (310)207-8832