Utah § 57-26-107 - Enforcement by appointment of receiver.
Full text of Utah Utah Code § 57-26-107 — Enforcement by appointment of receiver., with citation guidance and answers to common questions.
§ 57-26-107. Enforcement by appointment of receiver.
57-26-107.
Enforcement by appointment of receiver.
(1)
An assignee is entitled to the appointment of a receiver for the real property subject to the assignment of rents if:
(a)
the assignor is in default and:
(i)
the assignor has agreed in a signed document to the appointment of a receiver in the event of the assignor's default;
(ii)
it appears likely that the real property may not be sufficient to satisfy the secured obligation;
(iii)
the assignor has failed to turn over to the assignee proceeds that the assignee was entitled to collect; or
(iv)
a subordinate assignee of rents obtains the appointment of a receiver for the real property; or
(b)
other circumstances exist that would justify the appointment of a receiver under law of this state other than this chapter.
(2)
An assignee may file a petition for the appointment of a receiver in connection with an action:
(a)
to foreclose the security instrument;
(b)
for specific performance of the assignment;
(c)
seeking a remedy on account of waste or threatened waste of the real property subject to the assignment; or
(d)
otherwise to enforce the secured obligation or the assignee's remedies arising from the assignment.
(3)
An assignee that files a petition under Subsection (2) shall also give a copy of the petition in the manner specified in Section 57-26-103 to any other person that, 10 days before the date the petition is filed, held a recorded assignment of rents arising from the real property.
(4)
If an assignee enforces an assignment of rents under this section, the date of enforcement is the date on which the court enters an order appointing a receiver for the real property subject to the assignment.
(5)
From the date of its appointment, a receiver is entitled to collect rents as provided in Subsection 57-26-106(2). The receiver also has the authority provided in the order of appointment and law of this state other than this chapter.
(6)
The following rules govern priority among receivers:
(a)
If more than one assignee qualifies under this section for the appointment of a receiver, a receivership requested by an assignee entitled to priority in rents under this chapter has priority over a receivership requested by a subordinate assignee, even if a court has previously appointed a receiver for the subordinate assignee.
(b)
If a subordinate assignee obtains the appointment of a receiver, the receiver may collect the rents and apply the proceeds in the manner specified in the order appointing the receiver until a receiver is appointed under a senior assignment of rents.
Section 57-26-107 ("Enforcement by appointment of receiver.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 57-26-107?
A common citation format is "Utah Code § 57-26-107" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 57-26-107 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
