Florida’s Uniform Commercial Real Estate Receivership Act

In the wake of the pandemic, leveraged commercial real property may be more susceptible to default, foreclosure, loss, and waste. Historically, during the pendency of a commercial foreclosure action, one remedy creditors have had is the appointment of a receiver to protect and preserve the income and value of distressed property. But common law commercial receiverships based in equity developed haphazardly; they lacked clarity and predictability. An effort by the Business Law Section of the Florida Bar, acting with the assistance of The Florida Bar’s Real Property, Probate and Trust Law Section (RPPTL), fostered the codification of statutory guidelines. Read the article.