Law of Property Act 1925 Receiver - Revision history

Editor at 09:13, 2 December 2021

2021-12-02T09:13:24Z

← Older revision		Revision as of 09:13, 2 December 2021
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	The LPA Receiver or lender can apply to the Court on matters of uncertainty relating to the appointment, powers or remuneration.		The LPA Receiver or lender can apply to the Court on matters of uncertainty relating to the appointment, powers or remuneration.

−	= Related articles on Designing Buildings ~~Wiki~~ =	+	= Related articles on Designing Buildings =

		+	* Assignment of debt.
	* Copyhold.		* Copyhold.
	* Failure to notify tenant.		* Failure to notify tenant.

Designing Buildings at 07:40, 17 November 2020

2020-11-17T07:40:48Z

← Older revision		Revision as of 07:40, 17 November 2020
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		+	= Introduction =
		+
	A Law of Property Act 1925 Receiver (LPA Receiver) may be appointed under the terms of the [http://www.legislation.gov.uk/ukpga/Geo5/15-16/20 Law of Property Act 1925] to take charge of a mortgaged property when the borrower is in default. The purpose of this is to take control of the property with a view to either selling it to recover the outstanding debt, or to collect rental income for the lender.		A Law of Property Act 1925 Receiver (LPA Receiver) may be appointed under the terms of the [http://www.legislation.gov.uk/ukpga/Geo5/15-16/20 Law of Property Act 1925] to take charge of a mortgaged property when the borrower is in default. The purpose of this is to take control of the property with a view to either selling it to recover the outstanding debt, or to collect rental income for the lender.

−	== Direct powers ==	+	= Direct powers =

	Under the 1925 Act the direct powers of a LPA Receiver are:		Under the 1925 Act the direct powers of a LPA Receiver are:
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	* If directed to do so, to insure (and keep insured) the property against loss or fire damage. Premiums incurred can be paid from sums collected.		* If directed to do so, to insure (and keep insured) the property against loss or fire damage. Premiums incurred can be paid from sums collected.

−	== Delegated powers ==	+	= Delegated powers =

	The lender can delegate its contractual powers to the receiver under S 109(3) of the 1925 Act. This must be done in writing.		The lender can delegate its contractual powers to the receiver under S 109(3) of the 1925 Act. This must be done in writing.
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	* The power to make leases.		* The power to make leases.

−	== Insurance ==	+	= Insurance =

	The lender can demand that all monies received in connection with insurance of the mortgaged property be applied either towards the discharge of the mortgage balance or to recoup monies, loss or damage to which the funds relate.		The lender can demand that all monies received in connection with insurance of the mortgaged property be applied either towards the discharge of the mortgage balance or to recoup monies, loss or damage to which the funds relate.

−	== LPA Receiver’s remuneration ==	+	= LPA Receiver’s remuneration =

	The receiver is entitled to retain from monies received up to 5% unless specified otherwise.		The receiver is entitled to retain from monies received up to 5% unless specified otherwise.

−	== Application to the Court for directions ==	+	= Application to the Court for directions =

	The LPA Receiver or lender can apply to the Court on matters of uncertainty relating to the appointment, powers or remuneration.		The LPA Receiver or lender can apply to the Court on matters of uncertainty relating to the appointment, powers or remuneration.

−	~~= Find out more =~~	+	= Related articles on Designing Buildings Wiki =
−		+
−	=== Related articles on Designing Buildings Wiki ===	+

	* Copyhold.		* Copyhold.
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	* Mortgage.		* Mortgage.

−	=== External references ===	+	= External references =

	* [http://www.legislation.gov.uk/ukpga/Geo5/15-16/20 Law of Property Act 1925].		* [http://www.legislation.gov.uk/ukpga/Geo5/15-16/20 Law of Property Act 1925].

−	[[Category:Property_law]]	+	[[Category:DCN_Commentary]] [[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:DCN_Legislation]] [[Category:Property_law]]

Editor at 14:51, 26 September 2017

2017-09-26T14:51:47Z

← Older revision		Revision as of 14:51, 26 September 2017
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	=== Related articles on Designing Buildings Wiki ===		=== Related articles on Designing Buildings Wiki ===

		+	* Copyhold.
	* Failure to notify tenant.		* Failure to notify tenant.
	* Landlord.		* Landlord.

Editor at 14:45, 3 August 2016

2016-08-03T14:45:10Z

← Older revision		Revision as of 14:45, 3 August 2016
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	* Failure to notify tenant.		* Failure to notify tenant.
		+	* Landlord.
		+	* Mortgage.

	=== External references ===		=== External references ===

Editor at 14:44, 3 August 2016

2016-08-03T14:44:57Z

← Older revision		Revision as of 14:44, 3 August 2016
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−
	A Law of Property Act 1925 Receiver (LPA Receiver) may be appointed under the terms of the [http://www.legislation.gov.uk/ukpga/Geo5/15-16/20 Law of Property Act 1925] to take charge of a mortgaged property when the borrower is in default. The purpose of this is to take control of the property with a view to either selling it to recover the outstanding debt, or to collect rental income for the lender.		A Law of Property Act 1925 Receiver (LPA Receiver) may be appointed under the terms of the [http://www.legislation.gov.uk/ukpga/Geo5/15-16/20 Law of Property Act 1925] to take charge of a mortgaged property when the borrower is in default. The purpose of this is to take control of the property with a view to either selling it to recover the outstanding debt, or to collect rental income for the lender.

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	Under the 1925 Act the direct powers of a LPA Receiver are:		Under the 1925 Act the direct powers of a LPA Receiver are:
−	*To demand and recover all income due on the property to which they are appointed receiver. Such recovery can be by action, distress or any other means.	+
−	*If directed to do so, to insure (and keep insured) the property against loss or fire damage. Premiums incurred can be paid from sums collected.	+	* To demand and recover all income due on the property to which they are appointed receiver. Such recovery can be by action, distress or any other means.
		+	* If directed to do so, to insure (and keep insured) the property against loss or fire damage. Premiums incurred can be paid from sums collected.

	== Delegated powers ==		== Delegated powers ==
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	Such contractual powers are:		Such contractual powers are:
−	*The power to sell the mortgaged property on terms that the receiver sees fit.	+
−	*The power, once in the lender’s possession, to cut and sell timber after consulting with an arboriculturalist.	+	* The power to sell the mortgaged property on terms that the receiver sees fit.
−	*The power to make leases.	+	* The power, once in the lender’s possession, to cut and sell timber after consulting with an arboriculturalist.
		+	* The power to make leases.

	== Insurance ==		== Insurance ==
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	= Find out more =		= Find out more =
		+
		+	=== Related articles on Designing Buildings Wiki ===
		+
		+	* Failure to notify tenant.

	=== External references ===		=== External references ===
−	*[http://www.legislation.gov.uk/ukpga/Geo5/15-16/20 Law of Property Act 1925].	+
		+	* [http://www.legislation.gov.uk/ukpga/Geo5/15-16/20 Law of Property Act 1925].

	[[Category:Property_law]]		[[Category:Property_law]]

Designing Buildings at 06:55, 6 June 2013

2013-06-06T06:55:17Z

← Older revision		Revision as of 06:55, 6 June 2013
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	== Delegated powers ==		== Delegated powers ==

−	The lender can delegate its contractual powers to the receiver under S 109(3) of the 1925 Act. This must be done in writing.	+	The lender can delegate its contractual powers to the receiver under S 109(3) of the 1925 Act. This must be done in writing.

	Such contractual powers are:		Such contractual powers are:
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	The LPA Receiver or lender can apply to the Court on matters of uncertainty relating to the appointment, powers or remuneration.		The LPA Receiver or lender can apply to the Court on matters of uncertainty relating to the appointment, powers or remuneration.

−	= ~~See also~~ =	+	= Find out more =
		+
		+	=== External references ===
	*[http://www.legislation.gov.uk/ukpga/Geo5/15-16/20 Law of Property Act 1925].		*[http://www.legislation.gov.uk/ukpga/Geo5/15-16/20 Law of Property Act 1925].

	[[Category:Property_law]]		[[Category:Property_law]]

Designing Buildings at 14:12, 8 November 2012

2012-11-08T14:12:44Z

← Older revision		Revision as of 14:12, 8 November 2012
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		+	A Law of Property Act 1925 Receiver (LPA Receiver) may be appointed under the terms of the [http://www.legislation.gov.uk/ukpga/Geo5/15-16/20 Law of Property Act 1925] to take charge of a mortgaged property when the borrower is in default. The purpose of this is to take control of the property with a view to either selling it to recover the outstanding debt, or to collect rental income for the lender.

−	~~'''Law of Property Act 1925 Receiver (LPA Receiver)'''~~	+	== Direct powers ==
−		+
−	~~A LPA Receiver may be appointed under the terms of the Law of Property Act 1925 to take charge of a mortgaged property when the borrower is in default.~~	+
−		+
−	~~The purpose of so doing is to take control of the property in question with a view to either selling the property to recover the outstanding debt, or to collect rental income for the lender.~~	+
−		+
−	~~'''''~~Direct ~~Powers'''''~~	+

	Under the 1925 Act the direct powers of a LPA Receiver are:		Under the 1925 Act the direct powers of a LPA Receiver are:
	*To demand and recover all income due on the property to which they are appointed receiver. Such recovery can be by action, distress or any other means.		*To demand and recover all income due on the property to which they are appointed receiver. Such recovery can be by action, distress or any other means.
−	*If directed to do so, to insure (and keep insured) the property against loss or fire damage. ~~Any premiums~~ can be paid from sums collected.	+	*If directed to do so, to insure (and keep insured) the property against loss or fire damage. Premiums incurred can be paid from sums collected.

−	~~'''''~~Delegated ~~Powers'''''~~	+	== Delegated powers ==
−	*The Lender can also delegate its contractual powers ~~to the receiver under S 109(3) of the 1925 Act. This must be done in writing. Such contractual powers are:~~	+
−	*The power to sell the mortgaged property on terms that the receiver sees fit	+
−	*The power, once in the lender’s possession, to cut and sell timber after consulting with an arboriculturalist	+
−	*The power to make leases	+

−	~~'''''~~Insurance ~~Money'''''~~	+	The lender can delegate its contractual powers to the receiver under S 109(3) of the 1925 Act. This must be done in writing.
		+
		+	Such contractual powers are:
		+	*The power to sell the mortgaged property on terms that the receiver sees fit.
		+	*The power, once in the lender’s possession, to cut and sell timber after consulting with an arboriculturalist.
		+	*The power to make leases.
		+
		+	== Insurance ==

	The lender can demand that all monies received in connection with insurance of the mortgaged property be applied either towards the discharge of the mortgage balance or to recoup monies, loss or damage to which the funds relate.		The lender can demand that all monies received in connection with insurance of the mortgaged property be applied either towards the discharge of the mortgage balance or to recoup monies, loss or damage to which the funds relate.

−	~~'''''~~LPA Receiver’s remuneration~~'''''~~	+	== LPA Receiver’s remuneration ==
		+
		+	The receiver is entitled to retain from monies received up to 5% unless specified otherwise.

−	~~The receiver is entitled~~ to ~~retain from monies received up to 5% unless specified otherwise~~	+	== Application to the Court for directions ==

−	~~'''''Application~~ to the Court ~~for directions'''''~~	+	The LPA Receiver or lender can apply to the Court on matters of uncertainty relating to the appointment, powers or remuneration.

−	~~The LPA Receiver or Lender may apply to the Court on matters~~ of ~~uncertainty relating to the appointment, powers or remuneration~~.	+	= See also =
		+	*[http://www.legislation.gov.uk/ukpga/Geo5/15-16/20 Law of Property Act 1925].

	[[Category:Property_law]]		[[Category:Property_law]]

Martincantor: Created page with " '''Law of Property Act 1925 Receiver (LPA Receiver)''' A LPA Receiver may be appointed under the terms of the Law of Property Act 1925 to take charge of a mortgaged property w..."

2012-11-08T11:12:34Z

Created page with " '''Law of Property Act 1925 Receiver (LPA Receiver)''' A LPA Receiver may be appointed under the terms of the Law of Property Act 1925 to take charge of a mortgaged property w..."

New page

'''Law of Property Act 1925 Receiver (LPA Receiver)'''

A LPA Receiver may be appointed under the terms of the Law of Property Act 1925 to take charge of a mortgaged property when the borrower is in default.

The purpose of so doing is to take control of the property in question with a view to either selling the property to recover the outstanding debt, or to collect rental income for the lender.

'''''Direct Powers'''''

Under the 1925 Act the direct powers of a LPA Receiver are:
*To demand and recover all income due on the property to which they are appointed receiver. Such recovery can be by action, distress or any other means.
*If directed to do so, to insure (and keep insured) the property against loss or fire damage. Any premiums can be paid from sums collected.

'''''Delegated Powers'''''
*The Lender can also delegate its contractual powers to the receiver under S 109(3) of the 1925 Act. This must be done in writing. Such contractual powers are:
*The power to sell the mortgaged property on terms that the receiver sees fit
*The power, once in the lender’s possession, to cut and sell timber after consulting with an arboriculturalist
*The power to make leases

'''''Insurance Money'''''

The lender can demand that all monies received in connection with insurance of the mortgaged property be applied either towards the discharge of the mortgage balance or to recoup monies, loss or damage to which the funds relate.

'''''LPA Receiver’s remuneration'''''

The receiver is entitled to retain from monies received up to 5% unless specified otherwise

'''''Application to the Court for directions'''''

The LPA Receiver or Lender may apply to the Court on matters of uncertainty relating to the appointment, powers or remuneration.

[[Category:Property_law]]