Tennessee Receiver's is a type of legal entity created by the state of Tennessee for the purpose of holding title to real property, and protecting the interests of the titleholder. It is commonly used in transactions involving real estate, trusts, estates and business entities. There are two types of Tennessee Receiver's: voluntary and court-appointed. Voluntary Receivers are authorized under Tennessee Code Annotated, and are appointed by a contract between the parties involved in the transaction. Court-appointed Receivers are authorized under Tennessee Code Annotated, and are appointed by a court order. Both types of Receivers are responsible for safeguarding the assets of the titleholder, and managing the property in accordance with the terms of the transaction.