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IC 25-34.1-7 Chapter 7. Real Estate Recovery Fund
IC 25-34.1-7-1 IC 25-34.1-7-2 established under IC 25-34.1-3-8. IC 25-34.1-7-2.1 IC 25-34.1-7-3 IC 25-34.1-7-4 IC 25-34.1-7-5 IC 25-34.1-7-6 IC 25-34.1-7-7 Limitation of actions; notice of commencement of action IC 25-34.1-7-8 of a device, trickery, or forgery. IC 25-34.1-7-9 IC 25-34.1-7-10 IC 25-34.1-7-11 IC 25-34.1-7-13 Disclaimer: These codes may not be the most recent version. Indiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources. What is the maximum reimbursement that can be paid from the Florida real estate recovery fund for a single judgment quizlet?What is the maximum reimbursement that can be paid from the Florida Real Estate Recovery Fund for a single judgment? $50,000 or the unsatisfied portion of the judgment, whichever is less. How does the Florida real estate recovery fund work?The aim of the Recovery Fund is to provide “for the reimbursement of persons who suffer monetary losses because of the unscrupulous acts of licensed brokers or salespersons.” 3 The Recovery Fund can reimburse damaged homebuyers up to $50,000, or an amount equal to an unsatisfied portion of a claimant's judgment against ... What is the maximum reimbursement that can be paid from the Florida real estate Recovery Fund if multiple Judgements are awarded?Payments for multiple claims made against any one broker or sales associate may not exceed a total of $150,000. If any amount is paid out of the Real Estate Recovery Fund to settle a claim or satisfy a judgment against a licensee, his/her license must be suspended. What is the maximum amount that will be paid out of the Florida real estate Recovery Fund per licensee?So, in short, we need to know: Maximum payout is $50,000 per transaction and $150,000 per licensee. Recovery Fund will only pay real damages, not punitive damages (pain and suffering money) and attorney fees or court costs. Recovery Fund money comes from fines and fees. What is the maximum reimbursement that can be paid from the Florida real estate recovery fund for a single Judgement?The maximum amount that can be claimed from Florida's Real Estate Recovery Fund is $50,000 per single transaction. An injured party can claim a maximum of $150,000 for multiple transactions; they can claim the unsatisfied portion of a judgment, whichever amount is less.
What is the maximum amount that will be paid out of the Florida real estate Recovery fund per licensee?So, in short, we need to know: Maximum payout is $50,000 per transaction and $150,000 per licensee. Recovery Fund will only pay real damages, not punitive damages (pain and suffering money) and attorney fees or court costs.
What is the limits on what can be paid out of the recovery account?1. Maximum of $50,000 Per Transaction: The maximum amount allowable for an approved claim to the recovery fund is $50,000.
How is the Florida real estate Recovery fund funded quizlet?The Real Estate Recovery fund is financed through money received from administrative fines and surcharges on new and renewing licenses.
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