LSDefine
Simple English definitions for legal terms
A quick definition of receiver:
A receiver is someone who is chosen by a court to take care of property that is being fought over by different people. They have to be fair to everyone involved and follow the court's rules. Receivers can also be people who knowingly buy or receive things that were stolen, which is against the law.
A more thorough explanation:
Receiver - a person appointed by a court or a
corporation to manage and protect property that is the subject of different claims.
For example, a court may appoint a receiver to manage property that is in danger of being lost or damaged, or to manage property
subject to a particular mortgage. The receiver owes a duty to all parties involved to manage the property impartially and in
good faith.
In
criminal law, a receiver can also refer to someone who knowingly receives stolen property. This is a crime punishable by imprisonment.
receipt |
Receivership
