Business partnerships are usually started with a shared vision and the best of intentions, and the goal of blending talents and resources to make a profit. The expectation is that partners will act honorably and for the good of the business.
A Rents and Profits Receivership assists in the enforcement of a mortgage, deed of trust, or related assignment. A rents and profits receivership commonly occurs when a property owner defaults on a mortgage and the lender seeks the appointment of a receiver to protect the collateral while foreclosure commences. Deeds of trust typically provide for the appointment of a receiver and contain an assignment of rents provision to collect rents and preserve the property. A court-appointed receiver has the right to take control over and possess all collateral property subject to the deed or mortgage as directed by the court. A receiver is appointed by the court to collect and secure rents and to preserve and protect the property during a foreclosure.
Hooray a judgment as been entered! However, just because a decision has been made, the battle is not over yet. Now the phase of enforcing and collecting on that judgment begins. In many cases, a judgment debtor will never willingly satisfy a judgment. For this reason, a post-judgment Receivership is a great judgment enforcement remedy that can help recover money to pay the judgment. A post-judgment Receiver is appointed by the court and, for example, may be granted the authority to manage and take possession of the judgment debtor’s real and personal property to collect, lease, repair, or sell as the court directs. Courts have interpreted that a post-judgment Receiver is in fact working for the benefit of the judgment creditor that sought the appointment of the Receiver.
In California, a Health and Safety Receivership is an effective option to resolve code enforcement issues with residential and commercial properties. Health and Safety Receiverships commonly deal with substandard or abandoned properties when property owners fail to comply with code enforcement or when there is a threat to the health and safety of residents or the surrounding community. While receivership may not initially sound like a resource for illegally-operating marijuana facilities, the illegal sale of marijuana likely constitutes a nuisance pursuant to the California health and safety code and can be a threat to the health and safety of the surrounding community and/or businesses. The Receivership Remedy can resolve complex issues that arise with rogue marijuana dispensaries as dispensaries become more and more common and the industry continues to inflate.
A few weeks ago, we posted an article geared towards entrepreneurs who are striking it out on their own with a new business venture. We provided some tips on how to make sure you leave behind all files and documents that your former employer might classify as “trade secrets” to avoid misappropriation allegations, but closed the article by acknowledging the impossibility of leaving a workplace with a spotless mind. Let’s discuss a few of these “intangible” types of trade secrets that might seem impossible to physically leave behind.
Chances are, if you are starting your own company, you aren’t going to be a newcomer to whichever industry category your new business falls within. After years of managing hotels, you found the perfect location to convert into your own bed and breakfast. After working as a mechanic at a dealership for a decade, you decide to go independent and open your own auto repair shop. After cooking in the kitchens of several well-known franchises, you are starting your own restaurant. But are you essentially stealing the “tricks of the trade” you may have picked up at your last place of employment when you open up your own shop?