Marital Dissolution – Receivership Services

ByRMC Realty Advisors Posted on Updated on Case Studies

Marital Dissolution – Receivership Services

Location: Northern and Central California
Portfolio: 18-building portfolio including multi-family projects, single-family residences, and a mixed-use marina property

Overview

In September 2024, RMC Realty Advisors was engaged by Superior Court Receiver Kevin Singer to assume control of an 18-property portfolio amid a complex marital dissolution case. The assets spanned Northern and Central California and included multifamily, single-family, and mixed-use properties. RMC’s mandate included taking possession, managing operations, performing repairs, and executing the sale of the portfolio.

Challenges

  • Geographic Dispersion: Properties were located across multiple challenging submarkets in Northern and Central California.
  • Documentation Gaps: The Receiver was provided minimal property records at the outset.
  • Funding Constraints: The Receivership Estate had very limited operational funding.
  • Deferred Maintenance: Many assets required immediate and extensive repair.
  • Owner Interference: The Defendant and his employees actively obstructed Receiver operations.
  • Legal and Financial Complications:
    • Several properties faced pending foreclosure.
    • Defendant filed multiple bankruptcies to delay action.
    • Fraudulent Deeds of Trust were recorded to cloud title across the portfolio.

Scope of Services

Asset Management

  • Took possession and control of all properties.
  • Retained and directed new property management firms; replaced all prior building staff.
  • Remediated multiple life safety and habitability issues immediately.
  • Conducted a full review of title reports to identify and address encumbrances.
  • Communicated with lenders to prevent or delay foreclosures and protect property value.
  • Collaborated with Receiver’s legal team to eliminate fraudulent Deeds of Trust and secure Court-approved Relief from Stay to proceed with actions despite active bankruptcies.
  • Maintained ongoing coordination with local municipalities to resolve code violations.

Disposition

  • Hired and directed experienced brokers and auctioneers.
  • Negotiated and closed the sales of 6 properties via brokered and auction sales.
  • Achieved $8 million in gross sales with additional closings pending.

Results & Impact

RMC Realty Advisors’ swift action and strategic oversight enabled the rapid stabilization and sale of key assets, unlocking critical funding for the Receivership Estate. By engaging directly with lenders, RMC prevented multiple foreclosures, preserved asset value, and overcame significant legal and operational challenges. The successful liquidation of the initial set of properties laid the groundwork for additional sales and further financial recovery for the estate.

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