Legal Question in Wills and Trusts in Florida

If a company has been ordered to be put into a receivership but the lawyers for the company have gave documents that say on a certain date they are auctioning the company off at an online auction, my question, how can they auction off property that's been ordered off into a receivership? How can this be? Doesn't a receivership protect the company in there? What is the difference in Probate and a Trust and the fiduciary duties of a PR? What is the difference in Probate and a Trust and they fiduciary duty of a PR, what can they do in each, and what is their duty in each, what's the difference? Thank you, CC


Asked on 8/16/15, 7:04 am

1 Answer from Attorneys
Barry Stein De Cardenas, Freixas, Stein & Zachary

Your questions are all over the place and too open ended to provide a reasonable response. If a receivership has been forced on a company by the Court than the Court controls the assets and their disposal. A personal representative has authorization from a will, if it exists, and/or the Court based on the appointment. if no will the authority is as per the statute and it requires court approval for most monetary actions. A Trustee operates under the guidelines set out by the Trust document. No Court intervention or authorization is specifically required.

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Answered on 8/16/15, 8:22 am


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