The receiver will stay in place until the problem(s) is solved to the satisfaction of the court. Try to Avoid Receivership. Receivership is like aggressive cancer treatment: the treatment can be deadly, but it's the option when all other treatments have failed. Receivership is usually expensive and divisive, and can leave HOA owners powerless. Receivership is the process of appointment by a court, a contract, or a government official of a receiver to take custody of the property, business, rents and profits.
Freebase (0.00 / 0 votes) Rate this definition:.ReceivershipIn law, receivership is the situation in which an institution or enterprise is being held by a receiver, a person 'placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights.' The receivership remedy is an equitable remedy that emerged in the English Chancery courts, where receivers were appointed to protect real property.
Receiverships are also a remedy of last resort in litigation involving the conduct of executive agencies that fail to comply with constitutional or statutory obligations to populations that rely on those agencies for their basic human rights. Various types of receiver appointments exist:⁕a receiver appointed by a regulator pursuant to a statute;⁕a privately appointed receiver; and⁕a court-appointed receiver.The receiver's powers 'flow from the document underlying his appointment – a statute, financing agreement, or court order. Examples of receivership in a Sentence.:Sisal used to be the white gold of Tanzania, in the 60's and 70's our country produced over 200,000 tonnes of sisal, huge employment was provided, then of course synthetics came in, and the prices of Sisal started falling tremendously, so in the late 90's I bought a lot of farms under receivership. And I said: 'look, I mean the price cannot go further down,' so I took a long-term view.:I presume it went into receivership because the partners can't work together to put in money to revive it.