In 2016, when the Uniform Law Commission presented the Uniform Commercial Real Estate Receivership Act (UCRERA) to the business law section (BLS) of the Florida Bar, few could have predicted just how necessary and universally supported it would become four years hence. But enough BLS leaders and members recognized its utility and the benefits of a uniform commercial real estate receivership law to call for the formation of a new task force to study the act, make a recommendation regarding whether it will benefit Florida litigants and jurisprudence, and, if so, to revise it as appropriate and seek to have it enacted. Having served as counsel to receivers in state court proceedings in Florida and believing that a comprehensive receivership law would indeed benefit Florida citizens, provide a roadmap for litigants and courts involved in receivership proceedings, and facilitate the resolution of commercial real estate disputes, I volunteered to serve and was appointed as the task force’s co-chair (along with Amanda Fernandez, an associate attorney at my firm).

Until July 1, 2020, when UCRERA became law in Florida, there were no Florida statutes specifically governing commercial real estate receiverships in Florida and, therefore, receivership proceedings and the powers and duties of receivers varied from circuit to circuit and even judge to judge. Soon after their appointment, receivers were typically required to seek clarification from the appointing Judge regarding their powers and duties, to establish procedures for the receivership, and to carry out the mandates of the court while adhering to existing, not entirely consistent case law addressing many of the issues faced by receivers and the parties to such proceedings. At least from the perspective of a receiver, there was a need to create uniformity, consistency, and some measure of predictability in commercial real estate receivership proceedings throughout the State.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]