An LPA Receiver is appointed by a lender who has a fixed charge over the property under the statutory power given in section 109 Law of Property Act 1925. The powers of the LPA Receiver are as follows:
- To demand and recover rent to give receipts for income
- To insure any property against loss or damage
- To grant a lease over the property at the best reasonably obtained rent
- To accept a surrender of a lease in order to grant a new lease
In a well drafted mortgage the above powers are extended and would allow the appointed Receiver to take control of the property and act as he considers fit with the consent of the mortgagee.
KIS can provide you with prompt and constructive advice if you are experiencing secured property loan related difficulties or simply need to explore available enforcement or recovery options.
The sooner you seek advice from an experienced specialist, the greater the opportunity to resolve monetary issues emanating from secured lending on real property.
KIS provide initial exploratory consultations, held at our offices, which are undertaken free of charge and overseen by one of our two experienced and licensed Insolvency Practitioners.
Act now and contact KIS today to arrange a consultation.
Tel: +44 (0)208 441 2000
E-mail: kis@kelmanson.com
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