Ten Appointing Order Musts From the Court's Perspective
- Clear instructions with regard to turnover if a bankruptcy is filed.
- Clear instructions with regard to turnover if a lender forecloses.
- Full disclosure of all affiliates of the Receiver with regard to billing practices.
- Guidance as to Receiver's responsibility in regards to any Security Deposits.
- Instructions regarding the Receiver's authority of concerning entitlements, DRE, building permits, HOA, etc. to avoid further court appearances.
- Clear authority to hire counsel.
- Clear instructions concerning use of a tax identification number.
- Guidance as to the Defendant and Plaintiff's responsibilities to cooperate and provide information, access, etc.
- A clear temporary restraining order, as applicable.
- Clear instructions concerning utility companies and the US Post office regarding cooperation with the Receiver.
Prepared by Peter Davidson, Ervin Cohen & Jessup LLP, Taylor B. Grant, Real Estate Receiverships, and Richard Ormond, Buchalter Nemer. This document does not represent the views of the Los Angeles County Bar Association.
