Sec. 41.

Appointment of receiver. The court may appoint a receiver of the property of the judgment obligor; and it may also forbid a transfer or other disposition of, or any interference with, the property of the judgment obligor not exempt from execution. (43a)

RULE 41
Appointment of Receiver DEFINITION
41.01 In Rules 41.02 to 41.06, "receiver" means a receiver or receiver and manager.

HOW OBTAINED
41.02 The appointment of a receiver under section 44 of the Judicature Act may be obtained on motion to a judge in a pending or intended proceeding.

FORM OF ORDER
41.03 An order appointing a receiver shall: (a) name the person appointed or refer that issue in accordance with Rule 54; (b) specify the amount and terms of the security, if any, to be furnished by the receiver for the proper performance of his duties, or refer that issue in accordance with Rule 54; (c) state whether the receiver is also appointed as manager and, if necessary, define the scope of his managerial powers; and (d) contain such directions and impose such terms as are just.

REFERENCE OF CONDUCT OF RECEIVERSHIP

41.04 An order appointing a receiver may refer the conduct of all or part of the receivership in accordance with Rule 54. DIRECTIONS 41.05 A receiver may obtain directions at any time on motion to a judge, unless there has been a reference of the conduct of the receivership, in which case the motion shall be made to the referee.

DISCHARGE 41.06 A receiver may be discharged only by the order of a judge.

The court may appoint a receiver who is an officer of the court (sheriff is not the proper person to be appointed the receiver under this rule) who will manage the property of the litigants pending litigation. This remedy is found under Rule 59 on Receivership. The purpose of receivership is to preserve the property by placing it in the hands of the court to remove it from the control of a party because a party may dispose of the property.

Sec. 42.
Sale of ascertainable interest of judgment obligor in real estate.If it appears that the judgment obligor has an interest in real estate in the place in which proceedings are had, as mortgagor or mortgagee or otherwise, and his interest therein can be ascertained without controversy, the receiver may be ordered to sell and convey such real estate or the interest of the obligor therein; and such sale shall be conducted in all respects in the same manner as is provided for the sale of real estate upon execution, and the proceedings thereon shall be approved by the court before the execution of the deed. (44a) EXAMPLE: The obligor turns out to have an interest in real property as a mortgagee, or he has aright to redeem, or right to foreclose, or right to repurchase. The obligee can levy on these rights because these rights are property rights by themselves. This time, it is not the property which is sold but your interest.