Historically, Arizona courts have granted receivers certain powers and duties related to commercial real estate and certain residential property in accordance with A.R.S. § 12-1241,1.
During the 2021 Legislative Session, Connecticut adopted a new receivership law based on the Uniform Commercial Real Estate Receivership Act (“UCRERA”) which became effective on July 1,.
Understanding Connecticut s new commercial real estate receivership law westfaironline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from westfaironline.com Daily Mail and Mail on Sunday newspapers.
The law affecting distressed commercial real estate is about to change in Connecticut in a significant way. On July 1, 2023, the Uniform Commercial Real Estate Receivership Act.
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In 2018, Michigan adopted the Uniform Commercial Real Estate Receivership Act (the “Act”), which only applied to receiverships over commercial real estate. In October 2020, Michigan enacted an amendment to the Act. The amendment changed the name of the Act to the “Receivership Act” and makes the Act applicable to all operating businesses in Michigan and to commercial and industrial loans with no real estate collateral. The amendment became effective October 15, 2020. Below is a summary of the key changes to the Act.
The Act now applies to all operating businesses in Michigan, rather than only real estate receiverships.