§ 514.16 — Severance of Building, Resale, Receiver
Plain-Language Summary
This section allows a court to order just the building or improvement sold separately from the land, if it can be removed without major damage. The buyer gets 60 days to remove it. The court can also appoint a receiver to manage the property.
514.16 SEVERANCE OF BUILDING, RESALE, RECEIVER.
If, without material injury to the building or other improvement to which the lienholder has contributed, the same can be severed and removed from the land, the judgment, in the discretion of the court, may direct the sale of such improvement, with the privilege to the purchaser of removing the same at any time within 60 days, unless before such removal the owner or other person interested in the land shall pay to the sheriff, for the purchaser, the amount realized from the sale, with interest and all expenses incurred toward such removal. If in any case the sale be not confirmed, the court may direct a resale, or, if deemed best, may appoint a receiver to lease or otherwise handle the property, under its direction, in the interests of all persons concerned. And in all cases of liens arising under section 514.04, such receivership may be created in the first instance instead of directing a sale of the property.
History:
History: History: (8505) RL s 3519