714.01 – Short Title.

714.01 Short title.—This chapter may be cited as the “Uniform Commercial Real Estate Receivership Act.” History.—s. 1, ch. 2020-106.

714.02 – Definitions.

714.02 Definitions.—For the purposes of this chapter, the term: (1) “Affiliate” means: (a) With respect to an individual: 1. A companion of the individual; 2. A lineal ancestor or descendant, whether by blood or adoption, of: a. The individual; or b. A companion of the individual; 3. A companion of an ancestor or descendant as described in subparagraph 2.; 4. A sibling, aunt, uncle, […]

714.03 – Notice and Opportunity for Hearing.

714.03 Notice and opportunity for hearing.— (1) Except as otherwise provided in subsection (2), the court may issue an order under this chapter only after notice and opportunity for a hearing appropriate under the circumstances. (2) The court may issue an order under this chapter without written or oral notice to the adverse party only if: (a) It appears […]

714.04 – Scope; Exclusions.

714.04 Scope; exclusions.— (1) This chapter applies to a receivership initiated in a court of this state for an interest in real property and any incidental personal property related to or used in operating the real property. (2) This chapter does not apply to: (a) Actions in which a state agency or officer is expressly authorized by statute to […]

714.05 – Power of the Court.

714.05 Power of the court.—The court that appoints a receiver under this chapter has exclusive jurisdiction to direct the receiver and determine any controversy related to the receivership or receivership property. History.—s. 1, ch. 2020-106.

714.06 – Appointment of Receiver.

714.06 Appointment of receiver.— (1) The court may appoint a receiver: (a) Before judgment, to protect a party that demonstrates an apparent right, title, or interest in real property that is the subject of the action, if the property or its revenue-producing potential: 1. Is being subjected to or is in danger of waste, loss, substantial diminution in value, […]

714.07 – Disqualification From Appointment as Receiver; Disclosure of Interest.

714.07 Disqualification from appointment as receiver; disclosure of interest.— (1) The court may not appoint a person as receiver unless the person submits to the court a statement under penalty of perjury that the person is not disqualified. (2) Except as otherwise provided in subsection (3), a person is disqualified from appointment as receiver if the person: (a) Is […]

714.08 – Receiver’s Bond; Alternative Security.

714.08 Receiver’s bond; alternative security.— (1) Except as otherwise provided in subsection (2), a receiver shall post with the court a bond that: (a) Is conditioned on the faithful discharge of the receiver’s duties; (b) Has one or more sureties approved by the court; (c) Is in an amount the court specifies; and (d) Is effective as of the date of […]

714.09 – Status of Receiver as Lien Creditor.

714.09 Status of receiver as lien creditor.—Upon appointment of a receiver, the receiver has the status of a lien creditor under: (1) Chapter 679 as to receivership property or fixtures; and (2) Chapter 695 as to receivership property that is real property. History.—s. 1, ch. 2020-106.

714.10 – Security Agreement Covering After-Acquired Property.

714.10 Security agreement covering after-acquired property.—Except as otherwise provided by law other than this chapter, property that a receiver or an owner acquires after appointment of the receiver is subject to a security agreement entered into before the appointment to the same extent as if the court had not appointed the receiver. History.—s. 1, ch. 2020-106.

714.11 – Collection and Turnover of Receivership Property.

714.11 Collection and turnover of receivership property.— (1) Unless the court orders otherwise, on demand by a receiver: (a) A person that owes a debt that is receivership property and is matured or payable on demand or on order shall pay the debt to or on the order of the receiver, except to the extent the debt is […]

714.12 – Powers and Duties of Receiver.

714.12 Powers and duties of receiver.— (1) Except as limited by court order or the laws of this state other than this chapter, a receiver may: (a) Collect, control, manage, conserve, and protect receivership property; (b) Operate a business constituting receivership property, including preservation, use, sale, lease, license, exchange, collection, or disposition of the property in the ordinary course […]

714.13 – Duties of Owner.

714.13 Duties of owner.— (1) An owner shall: (a) Assist and cooperate with the receiver in the administration of the receivership and the discharge of the receiver’s duties; (b) Preserve and turn over to the receiver all receivership property in the owner’s possession, custody, or control; (c) Identify all records and other information relating to the receivership property, including a […]

714.14 – Stay; Injunction.

714.14 Stay; injunction.— (1) Except as otherwise provided in subsection (5), after notice and opportunity for a hearing, the court may enter an order providing for a stay, applicable to all persons, of any act, action, or proceeding: (a) To obtain possession of, exercise control over, or enforce a judgment against all or a portion of the receivership […]

714.15 – Engagement and Compensation of Professional.

714.15 Engagement and compensation of professional.— (1) With court approval, a receiver may engage an attorney, an accountant, an appraiser, an auctioneer, a broker, or another professional to assist the receiver in performing a duty or exercising a power of the receiver. The receiver shall disclose to the court: (a) The identity and qualifications of the professional; (b) The […]

714.16 – Use or Transfer of Receivership Property Not in Ordinary Course of Business.

714.16 Use or transfer of receivership property not in ordinary course of business.— (1) For the purposes of this section, the term “good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing. (2) Before judgment is entered with respect to the receivership property in the action in which the receiver is appointed, […]

714.17 – Executory Contract.

714.17 Executory contract.— (1) For the purposes of this section, the term “timeshare interest” has the same meaning as in s. 721.05(36). (2) Except as otherwise provided in subsection (8), with court approval, a receiver may adopt or reject an executory contract of the owner relating to receivership property. The court may condition the receiver’s adoption and continued […]

714.18 – Defenses and Immunities of Receiver.

714.18 Defenses and immunities of receiver.— (1) A receiver is entitled to all defenses and immunities provided by the laws of this state other than this chapter for an act or omission within the scope of the receiver’s appointment. (2) A receiver may be sued personally for an act or omission in administering receivership property only with approval […]

714.19 – Interim Report of Receiver.

714.19 Interim report of receiver.—A receiver may file or, if ordered by the court, shall file an interim report that includes: (1) The activities of the receiver since appointment or a previous report; (2) Receipts and disbursements, including a payment made or proposed to be made to a professional engaged by the receiver; (3) Receipts and dispositions of receivership […]

714.20 – Notice of Appointment; Claim Against Receivership; Distribution to Creditors.

714.20 Notice of appointment; claim against receivership; distribution to creditors.— (1) Except as otherwise provided in subsection (6), a receiver shall give notice of appointment of the receiver to creditors of the owner by: (a) Deposit for delivery through first-class mail or other commercially reasonable delivery method to the last known address of each creditor; and (b) Publication as […]