§ 568.5.Sale of Property

Sometimes preserving property means selling it -- before it deteriorates further, or because holding onto it no longer serves anyone's interest. Section 568.5 lets a receiver do that, but only pursuant to an order of the court and only by following the notice-and-sale procedure Article 6 (commencing with § 701.510) of Chapter 3 of Division 2 of Title 9 already sets out for enforcing money judgments.

Borrowing that procedure means the sale has to follow established rules for notice to interested parties, timing, and manner of sale -- the same framework used when a judgment creditor forces a sale to satisfy a judgment. The receiver isn't inventing a new sale process; the receiver is using one that already has built-in safeguards.

Even after the sale happens, it isn't final. The court has to confirm it. That confirmation step gives the court one more check on the price and process before the property changes hands for good.