What is a Court-Appointed Turnover Receiver?

The Texas turnover statute allows for the appointment of a Receiver in Texas over the assets of the judgment debtor.  A court-appointed Receiver has certain powers afforded to them in the Turnover Order that is signed by the Judge.  In other words, in the Turnover Order, the Judge will appoint a Receiver, who has such authorities as:

• charge and keep possession of receivership property,
• sell non-exempt property
• receive rents
• levy bank and other financial services accounts
• re-direct debtors mail

Once all non-exempt property has been disposed of and all proceeds distributed, then the receivership is discharged by the court.

A Turnover Receiver is a more effective collection option, and is less expensive than a levying officer, allowed under a Writ of Execution, or doing a Writ of Garnishment.  The Turnover Receiver can recover non-exempt assets that are easily hidden from a sheriff or even a constable, such as rental income, rental property, accounts receivable, safe deposit box contents, etc.  The Turnover Receiver can also recover non-exempt money in bank accounts without the expensive and extraordinary remedy of a bank garnishment (Writ of Garnishment). 

For more information about our recommended Receiver, Bill Hammer, click here.

For a description of exempt property in Texas, click here.

For more information, contact Texas Turnover Receivers today!