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Form #1352Receivership agreement for farm
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Receivership agreement for farm
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Receivership agreement
for farm.
It is covenanted and agreed by and between _________
and the undersigned creditors of _________, that the creditors will not
endeavor to enforce by chancery suit or sale of the property of _________, real
or personal, either to satisfy any liens or any liens which may be obtained,
until _________[date], after which time any creditor whose name is
signed shall have the right to enforce the liens and expose to sale the real
and personal property of _________, being in the County of _________, State of
_________. In consideration of the indulgence given to me by my creditors,
whose names are signed below, I covenant and agree that my creditors shall
cause the farm of _________ to be rented out for the year _________ on the best
terms and for the best price that they can secure. The rental to be either a
cash rent or upon usual one-third terms as they may best determine.
It is further agreed by and between all the parties
that _________, _________, and _________ are appointed as receivers to rent out
the farm of _________ for the year _________, for either the usual share rent
or for a proper rent and that they be further authorized to collect all rents
due and when collected to pay the taxes for the year _________, and the balance
to be paid to the lien creditors of _________, according to the priorities,
excepting that _________ shall receive no part. This agreement is not to be
effective unless all the creditors of _________ come into and are parties to
it.
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site.
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or any other commercial use is prohibited. This includes reposting forms from this
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form, and you agree to abide by these terms. It is highly recommended that you have
a licensed attorney review any legal documents for which you are searching in order
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Your use of this site constitutes your acceptance of our terms of use and your agreement
to hold this site, its officers, employees and any contributors to this site harmless
for any damage you might incur from your use of any submissions contained on this
site. If you do not agree to the above terms, please do not proceed.
These forms are provided to assist business owners and others in understanding important
points to consider in different transactions. They are offered with the understanding
that no legal advice, accounting, or other professional service is being offered
by these documents or on this website. Laws vary in the different states. Agreements
acceptable in one state may not be enforced the same way under the laws of another
state. Also, agreements should relate specifically to the particular facts of each
situation. Therefore, it is important to consult legal counsel whenever utilizing
these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com
is not engaged in recommending or referring members on the site or making claims
about the competence, character or qualifications of its participating members.
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