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Litigation

By ALM Staff | Law Journal Newsletters |

The appointment of the wife as receiver of income from marital rental property is appropriate where it is established there is a danger of the loss of marital assets and because it maximizes the preservation of marital assets. Rose v. Rose, 2002-07203, N.Y. Sup. Ct. App. Div. 2d Dept, May 19, 2002

The husband and wife acquired certain income-producing rental properties during their marriage. The wife moved, inter alia, for the appointment of a receiver for certain income producing marital property. She alleged that the husband utilized the moneys from these properties for his sole benefit. The wife was appointed as the receiver of the property, and the husband appealed. The appellate court affirmed the decision and held that appointment of a receiver is appropriate when it is established that there is a danger of dissipation or loss of marital funds. The appointment of the wife as receiver was appropriate because it would maximize the preservation of the parties' assets.

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