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Receiver - Compensation

court payment property time

A receiver has a right to be compensated for services and to be reimbursed for costs or traveling expenses. In cases where it is necessary for the receiver to hire an attorney, counsel fees are allowed. To obtain compensation, the receiver submits an itemized report of services to the court. The amount of payment depends upon the extent and value of the property, the difficulties encountered, and the time spent, as well as upon the receiver's skill, experience, and diligence and the success of his efforts. The time and manner of payment are, for the most part, left to the discretion of the court; unless authorized by the court, it is illegal for the receiver to take payment money out of the property being managed.

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