The LPA Receiver is a term derived directly from the law from which it gets its powers. The Law of Property Act of 1925 is the namesake of the LPA Receiver and is the basis of the law under which the LPA Receiver operates. Of particular interest to any property owner facing the threat of Receivership is the LPA Receiver power of sale.
The LPA Receiver is merely an individual designated to take control over property. This should be done in a court law & is almost always lender initiated. Typically, this is as a result of the property owner missing lender repayments. Due to unfortunate circumstance, missed repayments can often be unavoidable & Receivership issues can quickly escalate. Once a decision has been made in a court of law, an individual will be appointed the LPA Receiver of the property. Effectively, this gives them control over the property & all it’s affairs.
LPA Receiver Power of Sale Explained
Upon designation, the LPA Receiver then holds certain powers over the property. This includes a collection of any monies raised by the property such as rent by tenants, from which they can deal with directly. Of particular interest is the LPA Receiver power of sale. Amongst other powers, the LPA Receiver has court appointed power to sell any properties under its control. The prior permission of the owner is not needed & is not sought. Properties under the control of the LPA Receiver can see sold when and how the Receiver sees fit. Frighteningly, the LPA Receiver power of sale also entitles the Receiver to sell the property at any price it sees fit. This includes properties being sold at a loss, for quick re-cooperation of profit. Once again, this is done without the permission or consent of the property owner. All in all, the LPA Receiver power of sale isolates the actual property owner from any property affairs. Any sale resulting from the LPA Receiver power of sale is final & the property owner has little grounds on which to challenge it.
Help to Stop LPA Receiver Power of Sale
The Law of Property Act of 1925 is unfortunately vague as it’s best so is therefore little understood & open to interpretation. Due to the legal jargon & specialised area of property under which it operates, expert advice is essential. Indeed, even seasoned professionals of the legal trade are often at a loss in regards to the LPA Receiver power of sale.
Rescue My Properties is on the ground dealing with LPA Receivership for over a decade. In this time, we have garnered unparalleled experience in a specialist field. We have experience in stopping LPA Receivers, helping to set a precedence under which we use to protect our clients from the LPA Receiver power of sale. To set potential clients mind at ease, we offer free one hour consultations to discuss LPA Receivership issues. Rescue My Properties is proud to be able to offer this initial service free of charge, in order to alleviate the fears of individuals facing the harrowing situations of a forced sale.
If you are concerned you may be subject to a forced property sale, don’t delay. Speak to Rescue My Properties now. Time is of the essence & will assist in preparing your case. We have a full specialist team on hand to deal with any LPA Receiver power of sale issues you may be facing. Call our Head Office now on 020 7127 6536.
More LPA Receiver Power of Sale News
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