Management 1 Tri-Cities Realty and Property specializes in Court Appointed Receiverships.  A Receiver an extraordinary legal remedy, similar in concept to a court appointed Trustee, who has the responsibility of preserving and managing a property, a group of properties, or other real estate holdings, commercial and/or residential, during the time it takes to prosecute a lawsuit or to enforce a money judgment.  If a property owner is sued by a judgment creditor and the real estate portfolio is to be liquidated for the purpose of settling the judgment, this is frequently handled by a Receiver, with or without the property owner’s consent.

Washington Court Receivership Service

Receivers are appointed as Officers of the Court by the presiding Judge and must have an exceptional knowledge of Real Estate Law and Courtroom process and procedures.  Receivers are usually recommended by the Judgment Creditor or a Bankruptcy Trustee and subsequently appointed by the Judge.  A few simple ways Receivers can benefit the property owner, the Judgment Creditor, and the Court, are by, as a neutral third party, (1) settling disputes that opposing attorneys and/or mediators sometimes find difficult to settle themselves, (2) preserving assets that may be mis-managed, or not managed at all, (3) taking financial control of a property or asset and stopping further financial losses, or even finding better ways of managing the property and increasing profits, (4) making capital improvements to the property if it has been neglected by the Debtor, and (5) by reducing the pressure on the Judge who is often burdened by dealing with ongoing infighting that often occurs between a Judgment Creditor and a Debtor.

Court Receivership Money Judgement Enforcement

When having a Receiver appointed, the costs of the Receiver are generally paid out of the receivership estate, so there is usually no out-of-pocket expenses to either plaintiff or defendant.  Also, by appointing a receiver sooner, rather than later, it can help prevent either of the opposing parties misappropriate, pilfer, damage, or neglect the assets of the estate.  Any time a Receiver is appointed by a Court, this sends a strong signal to the Debtor that the Creditor and/or the Judge means business and action WILL take place.  Management 1 is experienced in Receiverships and can assist any Court or Judgment Creditor in enforcing money judgments via preservation, improvement, and/or liquidation of the Debtor’s real estate assets and holdings as necessary.  For more information about Court Receiverships, or to discuss having Management 1 Tri-Cities appointed as a Receiver for you, please visit our Washington Receivership website here, or contact us directly today.