What is a receiver.

The Texas Family Code allows for a receiver to be appointed to preserve and protect the property of the parties or to enforce the division of marital property made in a decree.

A Receiver is a court-appointed third party who is charged with preserving and protecting real estate assets. Oftentimes in family law cases a receiver will be assigned during one of the following circumstances:

• Foreclosure Risk: The parties cannot afford the home and potentially could be at risk of foreclosure. A receivership allows for the foreclosure to be stayed, this means the lender could not foreclose without the court’s approval. The Receiver in this case will work to sell the property on behalf of the parties in collaboration with the lender and court.

• Value Dispute: During family law proceedings such as a divorce it is common that the parties cannot agree on the home value. The receiver works to sell the home on behalf of the parties for the best price possible. In addition, the receiver works with the court during the course of the sell and helps to create a more efficient process preventing the parties from wasting time arguing over price.

• Debt: If the parties of a family law case owe more on a home that what the home is worth a receiver can help to sell the home as a short sale.

In these types of matters, Receivership appointments (sometimes known as Special Master appointments in family matters) are arguably the most effective ways for parties to control revenue and expenses, secure accurate and comprehensive financial information, attain clarity regarding valuation, stabilize operations and achieve resolution—for familial, marital or estate assets.

Our clients choose to work with us because of our ability to expeditiously identify issues, our experience and ability to develop a thoughtful, strategic and cost-effective plan, and our skill in adapting to the variety of situations we encounter.