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Legal Alert - If Receivers' Sales Aren't Foreclosures, What Are They?

03/25/2015

by Ben Reeves and Bob Olson

When no statute specifically authorizes a court-appointed receiver to sell real property, what type of sale is it? The Supreme Court of Nevada recently addressed this question, holding that “a receiver sale of real property that secures a loan is a form of judicial foreclosure.” U.S. Bank v. Palmilla Dev. Co., 131 Nev. Adv. Op. 9 (2015).

[Read the full alert.]