LPA Receiverships

LPA receiverships refer to a legal process where a lender appoints a receiver to manage a property when the borrower defaults on a loan. This often happens with commercial properties. The receiver's role is to oversee the asset, collect rent, and maintain the property while ensuring it retains value. The goal is to recover the lender's investment by selling or managing the property effectively. LPA stands for Law of Property Act, which provides the framework for this process in the UK, ensuring that the lender's rights are protected while the borrower’s interests are considered.