Sponsored by the law firm of Pepper Hamilton, see Tom Hemmendinger’s December 3rd webinar here on: “The Uniform Commercial Real Estate Receivership Act: What Is It and What Does It Mean for You?”
Currently, receivership procedures vary widely from state to state, and sometimes even from court to court, causing confusion and unpredictability for lenders and borrowers. The UCRERA provides a consistent set of rules for receiverships involving commercial property including certainty for business owners and creditors. It may also be an efficient alternative to foreclosure.