The income generated by a property — for example, rent from tenants or profits from its use. When a receiver is appointed over a property, they are entitled to receive the rents and profits and apply them towards the debt, after allowed costs.
In Plain English
Any money earned from a property, such as rent from tenants or income from its use. If a receiver is appointed, they take this money to pay off debts after taking out their costs.
Navigating court alone?
A McKenzie Friend can help you understand terms like these in the context of your case.
Find your supportWe use essential cookies only to provide you with the best experience on our website. No tracking or analytics cookies are used.