It is a temporary precautionary measure to place a real estate, movable, or a sum of money in respect of which a dispute over it or the right to it is not established, under trustworthy hands, will take care of it, maintain and administer it, in order to return it, along with its proceeds, to whomever has the right has the right to it. The legal texts have required to the receiver many obligations, the most important of which are the following:
Maintaining the money received
The necessary professional care shall be taken to keep and maintain the funds subject to receivership and to prevent their destruction or loss
The funds subject to receivership, with all their components of money, companies and real estate, are administered with sufficient professional care and in a manner that leads to its maintenance and maximizing its profits
The mission of the receiver is a subjective mission, and he may not assign it to others except with the permission of the court.
Receipt of the money the subject matter of the receivership
The money the subject matter of the receivership is received from the hand that was under its possession according to a report organized for this purpose, attached to it are lists in which the money is shown in terms of its description, form and quality, a copy of which is delivered to the competent authority.
We create an integrated accounting system to account for the revenues and expenses of the funds subject to receivership during the commissioning period
End of receivership
The funds subject to the receivership shall be returned with their yield at the end of the receivership work and a detailed report shall be prepared on that including all the actions and measures taken during that period