If you are involved in a divorce, probate matter, partition action or jointly owned real property where the parties do not agree as to the operation or disposition of property, you may benefit from the appointment of a Real Estate Special Commissioner.
Real Estate Special Commissioners use their in-depth industry knowledge and experience to resolve complex real estate disputes and provide disputing parties with the best value for the sale of their property, whether it is commercial, residential or land assets. They act as both real estate brokers and consultants, to efficiently facilitate the sale of real estate where complex relationships may exist.
If you are looking for a Real Estate Special Commissioner, here the things you need to know before hiring:
1. Type of Case
Real Estate Special Commissioners may help you execute different kinds of real estate transactions. The situations below illustrate the benefits of engaging a court-appointed receiver or special commissioner.
- Family Law. In Arizona, for cases such as divorce or legal separation, Rule 95G of the Arizona Rules of Family Law Procedure states the guidelines for engaging a licensed real estate agent as a Special Real Estate Commissioner. Use of a Real Estate Special Commissioner typically occurs in situations where parties do not agree on the terms of sale of disputed property, or the division of proceeds related to the sale. The Special Real Estate Commissioner may assist the parties in the valuation, management, marketing and sale of jointly-owned real property.
- Probate, Estate Settlement. Where multiple beneficiaries have different goals regarding estate property, a special commissioner can take the lead and provide assistance, in the valuation, management, marketing, and ultimately complete the sale of real estate assets.
Where income producing properties are involved, the appointment of a Receiver is likely more appropriate than the appointment of a Real Estate Special Commissioner. A court-appointed receiver typically has authority to seize control of assets and bank accounts, collect rent, operate properties and businesses, centralize financial data, and deliver comprehensive reports, including financial statements, to all parties, and the court, each month. Learn more here about the court appointed receiver.
2. Type of Property
Real Estate Special Commissioners can be helpful in resolving disputes over residential real estate transactions or non-income-producing commercial or land assets involved in a divorce matter, whereas a court-appointed receiver may help you navigate commercial properties involving income-producing properties, generated by a business separation or personal divorce involving jointly owned properties.
In any event, making sure your court-appointed receiver or Real Estate Special Commissioner has the relevant commercial, residential or land experience is essential for resolving both commercial and residential property disputes.
Incorporating these key considerations into your decision making and engaging a trusted real estate special commissioner or receiver can help reduce your stress and enable real property or real estate transactions to run smoothly.
This is a guest article by R.O.I. Properties Phoenix, Arizona. R.O.I. Properties has decades of experience serving as trusted Special Commissioners and Receivers. Contact us today for help with your situation.