Receiver

A receiver is a person who manages the assets or property of another under the auspices of a court. Usually a court receiver is appointed to take control of the property, business or profits of a party to lawsuit until it can be determined what is to become of the assets when a final decision is rendered. The duty of the receiver could include temporarily running a business, liquidating assets or overseeing the sale of the assets in the process of winding up a business. The receiver may be appointed to simply oversee the maintenance of property. The receiver may hire assistants or experts on behalf of the estate to temporarily run a business, determine its extent or value its sale or oversee or direct day-to-day functions including the maintenance of property or assets.