Alerts7.7.20
Florida Enacts Uniform Commercial Real Estate Receivership Act
Highlights
A new Florida law permits a receiver to sell or transfer receivership property free and clear of liens before a judgment is issued
A receivership proceeding involving commercial real estate may proceed with or without notice
The new law empowers the court to require the person whose conduct justified appointment of a receiver to pay for receiver’s reasonable fees and expenses
On June 27, Gov. Ron DeSantis signed the Uniform Commercial Real Estate Receivership Act (UCRERA), which became effective on July 1. The UCRERA codifies existing Florida common law regarding commercial foreclosures as a remedy to stakeholders and provides much needed uniformity.
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