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Receivership
RECEIVERSHIPA court order whereby all the property subject to dispute in a legal action is placed under the dominion and control of an independent person known as a receiver. Receivership is an extraordinary remedy, the purpose of which is to preserve property during the time needed to prosecute a lawsuit, if a danger is present that such property will be dissipated or removed from the jurisdiction of the court if a receiver is not appointed. Receivership takes place through a court order and is utilized only in exceptional circumstances and with or without the consent of the owner of the property. |
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"Receivership." West's Encyclopedia of American Law. 2005. Encyclopedia.com. 31 May. 2012 <http://www.encyclopedia.com>. "Receivership." West's Encyclopedia of American Law. 2005. Encyclopedia.com. (May 31, 2012). http://www.encyclopedia.com/doc/1G2-3437703676.html "Receivership." West's Encyclopedia of American Law. 2005. Retrieved May 31, 2012 from Encyclopedia.com: http://www.encyclopedia.com/doc/1G2-3437703676.html |
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receivership
re·ceiv·er·ship / riˈsēvərˌship/ • n. the state of being dealt with by an official receiver: the company went into receivership last week. |
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Cite this article
"receivership." The Oxford Pocket Dictionary of Current English. 2009. Encyclopedia.com. 31 May. 2012 <http://www.encyclopedia.com>. "receivership." The Oxford Pocket Dictionary of Current English. 2009. Encyclopedia.com. (May 31, 2012). http://www.encyclopedia.com/doc/1O999-receivership.html "receivership." The Oxford Pocket Dictionary of Current English. 2009. Retrieved May 31, 2012 from Encyclopedia.com: http://www.encyclopedia.com/doc/1O999-receivership.html |
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