News & Analysis as of

Receivership Commercial Real Estate Market

J.S. Held

Examining the Uniform Commercial Real Estate Receivership Act in Shaping Arizona’s Real Estate Receiverships

J.S. Held on

Historically, Arizona courts have granted receivers certain powers and duties related to commercial real estate and certain residential property in accordance with A.R.S. § 12-1241,1 and A.R.S. § 12-1242.2 For example,...more

McCarter & English, LLP

New Law Will Soon Improve Commercial Receivership Rules, Appointment Process in Connecticut

Lenders, investors, and mortgage servicers will have a more favorable and standardized framework for protecting their interests in distressed debt when applying for appointments of commercial receivers beginning July 1, 2023,...more

Kaufman & Canoles

Commercial Real Estate Receiverships: History, Factors, and Types of Receiverships

Kaufman & Canoles on

Historically, receiverships for commercial real estate were used to collect rents and fees generated by income-producing properties prior to the completion of foreclosure sales on those properties. While receiverships are...more

Miller Canfield

Michigan’s Receivership Act: No Longer Just for Commercial Real Estate

Miller Canfield on

The Uniform Commercial Real Estate Receivership Act (“UCRERA”), adopted by Michigan in 2018, originally applied only to receiverships over commercial real estate. An amendment effective October 15, 2020, shortens the name of...more

Carlton Fields

[Webinar] Florida’s Uniform Commercial Real Estate Receivership Act - October 21st, 12:00 pm - 1:00 pm EDT

Carlton Fields on

Florida’s Uniform Commercial Real Estate Receivership Act (UCRERA) went into effect on July 1, 2020, clarifying the standards for appointment of a receiver for commercial real estate and the receiver’s powers and duties. ...more

Lowndes

New Options for Creditors: Florida Adopts the Uniform Commercial Real Estate Receivership Act

Lowndes on

 Until July 1, 2020, there was no comprehensive statutory scheme for the appointment receivers of commercial real estate in Florida. Instead, receiverships of commercial real estate had been governed only by a patchwork of...more

Allen Matkins

Momentum Growing in the Effort to Adopt a Uniform Receivership Law

Allen Matkins on

In a November 2017 alert, we discussed the recent effort in support of the adoption of the Uniform Commercial Real Estate Receivership Act (“Act”), which would allow receivership property sales free and clear of liens, impose...more

Allen Matkins

The Effort to Adopt a Uniform Receivership Law

Allen Matkins on

There is a recent effort to adopt a uniform receivership act which is applicable to commercial real estate. If adopted in its current form in the 50 states, the receivership laws would provide a consistent treatment of laws...more

Farrell Fritz, P.C.

“Where’s the Beef?” Says Appeals Court, Reversing LLC Dissolution

Farrell Fritz, P.C. on

A dissolution petitioner received the judicial equivalent of the old quip “Where’s the beef?” in a Brooklyn appeals court decision last week reversing an order dissolving a limited liability company under Section 702 of the...more

Ervin Cohen & Jessup LLP

Watch Out Commercial Real Property Lenders – Appointment of a Receiver is not a Slam Dunk

The law is always changing. Sometimes changes in the law result from new cases or new statutes. However, sometimes the law changes in reaction to the mood of the country. At present, I believe that that the law may be...more

Carlton Fields

NCCUSL Approves Uniform Commercial Real Estate Receivership Act

Carlton Fields on

The appointment of a receiver of real property is a common equitable judicial remedy available in all states. It is often sought by a foreclosing mortgagee or others who have, or claim, an interest in the real property....more

Snell & Wilmer

The Uniform Law Commission Approves the Uniform Commercial Real Estate Receivership Act

Snell & Wilmer on

As we previously reported here, several years ago the Uniform Law Commission (the “ULC”) (the organization that drafted such favorites as the Uniform Commercial Code and the Uniform Arbitration Act) determined that states...more

Carlton Fields

Bringing Unity To Commercial Real Estate Receivership

Carlton Fields on

The National Conference of Commissioners on Uniform State Laws (NCCUSL) recently approved and has recommended for enactment in all states the Uniform Commercial Real Estate Receivership Act. The appointment of a receiver of...more

Ervin Cohen & Jessup LLP

Is there a Statute of Limitations on the Term of a Lease a Receiver can Execute?

QUESTION: I am a receiver for a shopping center. I want to enter into a five year lease for one of the stores. Is there a statute or rule that limits the term of leases a receiver can execute?...more

Snell & Wilmer

The Uniform Law Commission Makes Progress Drafting a Model Act on the Appointment and Powers of Real Estate Receivers

Snell & Wilmer on

If all goes as planned, the Uniform Law Commission will finalize and promulgate a model act dealing with the appointment and powers of commercial real estate receivers at some point in 2015. Last month, the Drafting...more

Baker Donelson

Extraordinary Florida Foreclosure Remedies

Baker Donelson on

When servicers or lenders think of having to foreclose on commercial property in the State of Florida, what immediately comes to mind is a lengthy judicial foreclosure process, and difficulty in enforcing rights provided in...more

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