what does receiver  mean in real estate
The receiver is mandated to take control (but not the title to) the pledged assets or the property to which debt is charged (and nothing else) to collect sufficient amount to repay the debt (plus his or her fees or expenses). Receivers are usually granted very wide powers and, in addition, they assume the powers of the directors. Although a receiver must try to save the firm, in practice nearly every firm in receivership is either sold or liquidated.