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Land Law - Mortgage - Appointing a receiver
A mortgagee would usually look to this remedy in commercial premises. The receiver would be appointed to take over the management of the property or premises, so receiving the rental income, paying any associated expenses and paying any surplus back to the mortgagee. These are seldom used in residential transactions due to the possible costs involved in managing the property, such as paying any expenses which are unlikely to be recoverable.
A mortgagee would usually look to this remedy in commercial premises. The receiver would be appointed to take over the management of the property or premises, so receiving the rental income, paying any associated expenses and paying any surplus back to the mortgagee. These are seldom used in residential transactions due to the possible costs involved in managing the property, such as paying any expenses which are unlikely to be recoverable.
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