Legal Question in Family Law in New York
Receivership after divorce
My ex husband and I own our house that I currently live in. This year, per our divorce agreement, we are to sell the house. We have it on the market, but it is not selling quickly. My exhusband has threatened to put the house in receivership. What does that mean? thank you.
3 Answers from Attorneys
Re: Receivership after divorce
Presumably, your husband is speaking of a receivership under CPLR 5106, for the purposes of disposing of the property. Unless one of you is unreasonably holding up the sale, it would be unwise for either of you to seek appointment of a receiver, who will be responsible for managing and selling the property but has no real interest beyond collecting his or her fee, and is unlikely to maximize the property's value. You or your husband may call me at 212-367-9167 to discuss the legal or marketing aspects of the property.
Re: Receivership after divorce
You do not want a receiver involved. Costs money and you lose control (both of you). Is the house listed w/ a RE Broker? Is it fairly priced? Does the Broker belong to an MLS? Does the broker have easy access? Is the house neat/clean when buyers arrive? Ask the broker to show you where/when (s)he is advertising. Keep a record of all appointments/showings. If you would like a "Seller's Tips" brochure, I will e-mail it to you. Good Luck.
Debra Palazzo [email protected]
Re: Receivership after divorce
Receivership is established after a court proceeding. It is similar to having a 'guardian' or 'power of attorney'. It means you must pay someone else besides the broker to help sell the house.
The source of the problem may be that your husband feels that by living in the house, you are not truly interested in seling the house.You are welcome to a consultation for no charge at my offices at 41 West 44th St., NY,NY. Please call for an appointment first. 646-591-5786.