Receiver’s Bond. The requirements for a bond or other security to be posted by the receiver are set forth in A.R.S. §33-2607. This provision differs in a significant way from Rule 66. The rule requires that the receiver file his bond for court approval “before performing” any duties as a receiver. Section 33-2607(c) permits the …
Disqualification from Serving as Receiver. A person proposed to be the receiver must file an affidavit which demonstrates that he or she is not disqualified from serving in that position. A.R.S. §33-2606(A). A person may not serve as a receiver in a particular action under the Act if she: (1) Is an …
Notice & Hearing and Bonds for Ex Parte Receivership Appointment. A court may only issue an order under the Act after notice and a hearing, pursuant to Section 33-2602, except: (1) That it may issue an order without notice if the circumstances so require; (2) That it may issue an order after notice but without …
Power of the Court. Section 33-2604 provides that a court appointing a receiver “has exclusive jurisdiction to direct the receiver and determine any controversy related to the receivership or receivership property.” Vesting one court with the sole authority to handle all matters relating to the proceeding and property owned by the receivership estate arising or …
Appointment of a Receiver: (2) Other Circumstances There are numerous circumstances that may justify the appointment of a receiver over an owner of real estate beyond the enforcement of a lender’s rights under a deed of trust. The Act attempts to quantify those into the four circumstances: (1) Before entry of a judgment; (2) After …