Legal Question in Real Estate Law in California
receiver of real estate
what does a receiver get for a fee for doing the receiver job?
1 Answer from Attorneys
Re: receiver of real estate
The court approves an hourly rate requested by the Reciver who them submits a statement of hours worked and expenses. Normally judges will not change any part of the billing even if clearly wrong. The receiver can also appoint an attorney to assist him, even if the receiver is an attorney himself and the lawyer assisting is in the receiver's own law firm; again the court must approve of it but generally will. A large portion of the assets will be eaten up with a reciver in place.
If this is because of city code violations, try to work out a compromise with the city by agreeing to hire a contractor they approve of to do the work and not have the receiver act. It is always better to compromise then have the court system involved.