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Alex Zesch, associate with Trenam Law in St. Petersburg. Courtesy photo Alex Zesch, associate with Trenam Law in St. Petersburg. Courtesy photo

On July 1, 2020, Florida became the ninth state to adopt a version of the Uniform Commercial Real Estate Receivership Act (UCRERA or the act). The act provides a formal process for the appointment and operation of a receiver over commercial real estate, an area that has been plagued by inconsistency because Florida’s courts were bound to follow case law and the specific contract provisions before them. The act provides criteria for courts to appoint receivers and enumerates powers receivers will possess once appointed. As a result, Florida attorneys have generally welcomed the new act, but there remain hurdles to consider in the processes under the new law.

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