Lenders frequently turn to receiverships to manage assets and even dispose of collateral. An appointed receiver, of course, is a party who maintains custodial responsibility for property, assets and other rights. The receiver controls the property, its maintenance and insurance. “Having a receiver in place helps ensure that you’re not deemed a mortgagee in possession by virtue of collecting the rents,” said Duane Morris alum Lauren Lonergan Taylor, now at TD Bank.