Receivership | Professional Services Assuming Property Custodial Responsibility

Receivership is an alternative to other forms of mortgage default (foreclosure or bankruptcy proceedings). Receivers are appointed by the court to assume custodial responsibility of a property. This includes the responsibility to collect rents, pay operating expenses, determine capital expenditures, establish a budget, report on inventory, financials and operations, and potentially facilitate the sale of the asset. The court order appointing the receiver will specify the receiver’s authority. Compass Holdings will perform receivership services to ensure the process is handled professionally and efficiently.