Florida Court's Appointing Receivers?

Asked almost 6 years ago - Clearwater, FL

Do Florida Courts generally recognize a lending institution's right to appoint a receiver just because it was stipulated in a loan agreement, that in the event of default they would automatically receive that right?

Or is there usually a burden or requirement in proving that there is specific evidence that the lender has legitimate concern for the protection of collateral?

Attorney answers (1)

  1. Margery Ellen Golant

    Pro

    Contributor Level 20

    1

    Lawyer agrees

    Answered . The answer to this depends on many things. Is it residential or commercial property ? Is the loan in default ? Is foreclosure pending ? Is the property being cared for ?

    This is equitable relief, accordingly courts are required to do what is fair and just under the circumstances. If an owner has abandoned the property or is failing to take care of it, or is collecting rent but not paying the mortgage, a request to appoint a receiver would probably be granted. If it is your home, you are living there, but having financial problems, there is a good chance it would not be granted. If a foreclosure action is pending, it should be defended against, or otherwise the lender will soon be the owner, and will not need a receiver.

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