Travis, a licensed salesperson, was awarded a judgment of $10,000, but the broker won't pay. for what amount may travis apply to

Question

Mekhanik [1.2K]

2 years ago

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Travis, a licensed salesperson, was awarded a judgment of $10,000, but the broker won't pay. for what amount may travis apply to

the real estate recovery fund?

Business

1 answer:

Alex · Answer 1 · 2023-08-14T17:35:33+03:00

Travis may apply for $0 as in the US, consumers who have won a court judgment against a licensee are given reimbursement.

A licensed real estate broker, salesperson, or closing agent's dishonest, fraudulent, or dishonest conduct, or the conversion of trust money, are grounds for compensation under the Real Estate Education, Research, and Recovery Fund.

Every commercial sales transaction must comply with the agency disclosure obligation. A licensee's disclosure of the party(ies) he acts on behalf of in the transaction shall be confirmed in writing.

By the law, Payments from the Real Estate Inspection Recovery Fund are limited to a maximum of $30,000 per license holder and a maximum of $12,500 per transaction.

Learn more about Real Estate Recovery Fund at brainly.com/question/14102448

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