Law of Property Act Receivers act for banks and private lenders who have secured their loans by a charge or mortgage on a property.
Under the terms of the charge on the property, the lender or charge holder can then appoint a Property Receiver to deal with a property if the terms of the mortgage are not being met, which would usually be when repayments are not being made.
Unlike Insolvency Practitioners, Property Receivers do not have to be licensed Insolvency Practitioners, but are usually Chartered Surveyors.
Our Insolvency and Restructuring team can provide Property Receivers with comprehensive legal support to enable you to carry out your role and responsibilities with maximum efficiency.
Our lawyers take a hands-on approach throughout, from a thorough investigation of the legal position at the outset, through to support with all aspects of property receivership, including:
- Assisting on receiverships;
- Advising on validity of the appointment of the receiver;
- Any other issues that arise.