receivership for abandon and distressed property

[Rich Hupper]

Hello

Can anyone enlighten me to how receiverships work? After a receiver has completed the work on a property and fixed all the sanitary code violations, do they get title to it? Or do they have get the ability to force a sale to redeem the capital they put into it? 

Also how does one become a court appointed receiver? 

[Stephanie Fleming]

It is a real estate observer.  This situation really depends on who owns the property.  Is it an agent?  A court appointed receiver?  We have closed receivership deals in Cleveland Ohio with a court appointed receiver who was also an agent.  The deal had to be approved by the courts prior to closing.  The funds for repairs were included in the offer.