7.7 Advantages and Disadvantages of Receivership.

• Jurisdiction: Arizona

Once appointed, the receiver is authorized to collect all rents, issues, and profits for application to the debt.

The appointment of a receiver requires filing a judicial proceeding, and involves the time and expense attendant to an evidentiary hearing on the application for appointment of a receiver.

Because the receiver is an officer of the court, its appointment insulates the lender from a landlord’s liability, as well as, liability both as to third parties and to the debtor as mortgagee in possession.

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