ABSTRACT
LPA stands for Law of Property Act 1925, which gives the holder of a charge over a company’s property a right to appoint a receiver. The Act gives the receiver very few powers other than to collect in rent for the building. He has no powers of sale and, if the property is to be sold, the charge holder will have to obtain a possession order and can then sell the property as ‘mortgagee in possession’. It is rare that a charge still exists that does
not give the greater flexibility to appoint a fixed charge receiver.
