Law of Property Act receiver

Law of Property Act receiver
Law of Property Act receiver (LPA receiver)
England, Wales
A person (not necessarily an insolvency practitioner) appointed under the Law of Property Act 1925 by a lender holding a fixed charge over property to enforce the lender's security. An LPA receiver has the powers and duties specified in and limited by the Law of Property Act 1925 but these can be modified by express provisions in the security document. An LPA receiver is usually appointed with a view to selling the charged property or collecting the rental income from it for the lender.
A receiver appointed under an express power in a security document creating fixed charges over assets is often also referred to as an LPA receiver (to distinguish it from an administrative receiver appointed by a floating charge holder) although technically this is incorrect. Most modern security documents contain an express power to appoint a receiver and it is now rare for a lender to rely on the power implied by the Law of Property Act 1925.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

См. также в других словарях:

  • receiver — re·ceiv·er /ri sē vər/ n 1: an officer charged with receiving tax payments or returns and other related duties (as the maintenance of tax rolls) 2: a person appointed by the court to hold in trust and administer property in litigation; esp: one… …   Law dictionary

  • property — prop·er·ty n pl ties [Anglo French propreté proprieté, from Latin proprietat proprietas, from proprius own, particular] 1: something (as an interest, money, or land) that is owned or possessed see also asset, estate, interest …   Law dictionary

  • Receiver of Wreck — The Receiver of Wreck, a post defined under the Merchant Shipping Act 1995 is an official of the British government whose main task is to process incoming reports of wreck in order to: *Give legitimate owners the opportunity to retrieve their… …   Wikipedia

  • Law, Crime, and Law Enforcement — ▪ 2006 Introduction Trials of former heads of state, U.S. Supreme Court rulings on eminent domain and the death penalty, and high profile cases against former executives of large corporations were leading legal and criminal issues in 2005.… …   Universalium

  • receiver — A person exercising any form of receivership. In bankruptcy, the official receiver becomes receiver and manager of the bankrupt s estate. Where there is a floating charge over the whole of a company s property and a crystallizing event has… …   Accounting dictionary

  • LPA receiver — Law of Property Act receiver (LPA receiver) England, Wales A person (not necessarily an insolvency practitioner) appointed under the Law of Property Act 1925 by a lender holding a fixed charge over property to enforce the lender s security. An… …   Law dictionary

  • Creation of express trusts in English law — The creation of express trusts in English law must involve four elements for the trust to be valid: capacity, certainty, constitution and formality. Capacity refers to the settlor s ability to create a trust in the first place; generally speaking …   Wikipedia

  • Mortgage Law — Types of mortgage Under the Law of Property Act (1925), which governs mortgage regulations in the UK, there are two types of mortgage, legal and equitable. A legal mortgage confers a legal estate on the mortgagee (lender). Under the 1925 Act, the …   Big dictionary of business and management

  • administrative receiver — Historically, a receiver or manager of the whole or substantially the whole of a company s property, appointed on behalf of the holder of a debenture of the company which as created was a floating charge, and authorised to get in the assets, run… …   Law dictionary

  • Intellectual property — This article is about the legal concept. For the 2006 film, see Intellectual Property (film). Intellectual property law Primary rights …   Wikipedia


Поделиться ссылкой на выделенное

Прямая ссылка:
Нажмите правой клавишей мыши и выберите «Копировать ссылку»