Survey of the Rights of Receiverships to Sell Real Property

The focus of this article is on the abilities of the receiver and the restrictions put on him regarding his management of the property-- specifically, whether the receiver has the ability to sell the land free and clear of all liens, and, if so, under what circumstances and by what method. Part II gives an overview of the article, discusses the structures of receivership statutes in various jurisdictions, and further discusses receivership sales. Part III analyzes the statutory frameworks and caselaw from a selection of jurisdictions with regards to their treatment of receiverships and focuses on sales made by the receiver in the foreclosure context. Part IV suggests any uniform law for sales by receiverships should consist of three elements: (1) the agreement must be made post-default; (2) there should be an objection system to protect junior lienholders; and (3) there should be exceptions to protect homesteads and farm owners