Karlin Daniel & Associates, Inc. acts as a representative serving as Receiver by direction of a court order as a result of a pending liquidation.
With our history of working for various courts, Karlin Daniel & Associates is often called upon to act as Receiver. As an independent third party appointed by the Court, the Receiver temporarily assumes the role of Trustee/Manager as a court appointee and thereby receives the rent, pays the operating and other expenses and performs other functions as the Court instructs or as may be subsequently approved by the Court.
As Receiver, we will inspect the property, advise and meet tenants and vendors, obtain and review records from the owner and management company, and establish the operational, maintenance and accounting procedures and systems as may be appropriate. An inventory of property controlled by the Receiver is filed with the Court along with an Oath of Receiver.
Monthly financial reports are submitted to the respective Court and the litigant parties. Periodic narrative reports are also provided when needed. Special requests to the Court's and litigant parties' approval are made when necessary, i.e. capital, expenditures, lease cancellations, etc.
At the conclusion of the Receivership, a financial accounting is submitted to the Court and the litigant parties for approval. A motion is filed with the Court to terminate the Receivership and the Court issues such an order.
If you are in need of Receivership services, please contact our office to discuss the details and the ability of Karlin Daniel & Associates to meet your needs.