Legal Definitions - receiver

Receiver - a person appointed by a court or a corporation to manage and protect property that is the subject of different claims. For example, a court may appoint a receiver to manage property that is in danger of being lost or damaged, or to manage property subject to a particular mortgage. The receiver owes a duty to all parties involved to manage the property impartially and in good faith. In criminal law, a receiver can also refer to someone who knowingly receives stolen property. This is a crime punishable by imprisonment.