Ontario Real Estate And Development Industry Hires And Promotions: September

Receivership

Understand receivership in Canadian real estate: when it’s used, how it works, and what it means for borrowers, lenders, and distressed assets.

Receivership

June 16, 2025


What is Receivership?

Receivership is a legal process where a court or secured creditor appoints a receiver to take control of a borrower’s assets, such as property or businesses, when the borrower defaults on their obligations.

Why Receivership Matters in Real Estate

In Canadian real estate and finance, receivership is commonly used when lenders seek to recover debt by managing or selling assets, especially during insolvency or foreclosure scenarios.



A receiver may:
  • Operate, lease, or sell the property
  • Collect rental income and pay operating expenses
  • Protect asset value while enforcing creditor rights
  • Report to the court or creditor on asset disposition



Receivers are usually court-appointed professionals (often accountants or legal trustees).



Understanding receivership helps investors and creditors navigate distressed property scenarios and asset recovery.

Example of Receivership in Action

After the borrower defaulted on their commercial mortgage, the lender obtained a court order to place the property into receivership for sale.

Key Takeaways

  • Occurs when an asset is controlled by a receiver
  • Used to recover debt during default or insolvency
  • May involve court oversight
  • Receiver manages or sells the property
  • Protects lender interests and asset value

Related Terms

Additional Terms

Blight

Blight refers to the deterioration, neglect, and disrepair of properties or neighborhoods that cause economic decline and reduce livability. Blighted. more

Community Land Trust (CLT)

A community land trust (CLT) is a non-profit organization that owns land to preserve long-term housing affordability. Homes are sold or rented at. more

Co-Housing Community

A co-housing community is a residential model where individuals or families live in private homes but share common facilities such as kitchens,. more

Chain of Title

Chain of title is the chronological record of property ownership transfers, from the original owner to the current owner. It documents deeds,. more

Carbon Offset Credits

Carbon offset credits in real estate are tradable credits earned by properties or developments that reduce greenhouse gas emissions through. more

Build-to-Rent

Build-to-rent refers to residential developments specifically constructed for the rental market rather than for sale. These projects are typically. more

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