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Jeffrey C. Schneider and Stephanie Reed Traband are partners at Levine Kellogg Lehman Schneider & Grossman in Miami. Courtesy Photos Jeffrey C. Schneider and Stephanie Reed Traband are partners at Levine Kellogg Lehman Schneider & Grossman in Miami. Courtesy Photos

Almost every commercial mortgage in Florida contains a clause authorizing the lender to seek the appointment of a receiver in the event of a borrower’s default. However, despite that contractual authority, there has never been statutory guidance for courts when presented with lenders’ requests for the appointment of a receiver—until now. Instead, there was an uneven patchwork of decisions by Florida courts as to the necessity and scope of a receiver’s appointment. Florida’s Uniform Commercial Real Estate Receivership Act (UCRERA; codified at Fla. Stat. Ch. 714), which became effective on July 1, provides needed clarity and consistency for both lenders and courts.

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