Description

From this video: Richard Ormond: A receiver, not to get too technical, is something that's existed in British common law for about a thousand years now. And, it was a mechanism for the court to be able to manage real estate, which was the original intent, when there were feuding landlords or feuding landowners that they didn't want the land to lie fallow so they would appoint an officer of the court to take over that asset until the dispute was resolved. Today, it's most known because lenders use it as a remedy for them to, rather than foreclose on a property, they can get the court to take over the property and operate it for whatever amount of time the court or the bank needs until they're able to foreclose or work out a deal with the borrower or have the receiver actually sell the property. For the ultimate guide to real estate crowdfunding and syndication, subscribe now to the FREE GowerCrowd newsletter: https://bit.ly/3jRnlTv | Visit the GowerCrowd website, the most complete source of free real estate syndication and investing resources and training available anywhere: https://bit.ly/2VMA7ea | Are you a real estate developer? Read the new book, SYNDICATE and learn how to find more investors so you can raise more money: https://bit.ly/3jRUM8r | Are you a real estate investor? Watch this free webcast and discover the Hidden Secrets to Success in Real Estate Investing: https://bit.ly/2VJMcAN