(1) After the filing of the inventory proceeding, pending appointment of the head of the family, where there is a just apprehension that the assets of the estate are in danger of being wasted, damaged or dissipated or alienated, the court may, upon an application of any party interested in the preservation of the assets, and, or of its own motion, order that a list of the assets with their description and estimated value, be prepared.
The court shall place the assets in the custody of a Receiver who may be either the applicants the person in possession or any other interested party. The Receiver shall manage the assets and render accounts. The list of assets prepared under this clause shall form part of the list of assets in the inventory proceeding.
(2) When the court is satisfied that the delay will defeat the very object of the relief sought, it may pass such order, ex parte.
(3) Upon hearing the person dispossessed by the ex parte order, the court may either confirm or vacate the ex parte order passed. In case it is confirmed, such assets shall be handed over to the head of the family appointed in the inventory proceeding