Applications to Appoint Temporary Receivers

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Real Estate Partner Todd E. Soloway and Counsel Luisa K. Hagemeier’s article “Applications to Appoint Temporary Receivers” appeared in the August 17, 2011 edition of the New York Law Journal.

The distrust occasioned by a mortgagor’s default understandably moves a foreclosing secured lender to seek the appointment of a temporary receiver. However, many lenders mistakenly believe that an application for the appointment of a receiver in a foreclosure context is a fait accompli. In reality, the mere fact that a default exists will not alone be sufficient to obtain the appointment of a temporary receiver.

In the article, Soloway and Hagemeier, lay out the procedural mechanisms for applying for the appointment of temporary receiver and the potential pitfalls that may present themselves.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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