Receivership Court Has Exclusive Power Over The Disposition Of Property Held By Receiver

Saichek v. Cab Builders, LLC, ___ So. 3d ___, 35 Fla. L. Weekly D2009 (Fla. 3d DCA 9/8/10)

The seller entered into a contract to sell real estate to the buyer.  When the buyer failed to close, the seller demanded that the deposit held by the escrow agent.  When the seller did not receive the deposit, he sued the buyer for breach of contract and the escrow agent and its receiver for negligence and an accounting.  The trial court ordered the receiver to place the deposit into a special trust account and enjoined the transfer or disbursement of the funds in the absence of an order from the court.  The trial court later determined that the seller was entitled to recover the amount of the deposit from the special trust account.  The appellate court reversed because the court in the receivership litigation held “the exclusive power to make determinations as to the disposition of the property held by [the receiver].”