Question

Marin was the victim of a Minnesota real estate licensee's dishonest practices. She received a final judgment in court but hasn't been paid, despite going through all legal proceedings, reviews, and appeals. She's seeking recovery from the Real Estate Education, Research, and Recovery Fund. What's the maximum she'd be paid?

Answer 1

Marin's maximum potential recovery from the Minnesota Real Estate Education, Research, and Recovery Fund due to a real estate licensee's dishonest practices is up to $250,000 per transaction, with a cap of $150,000 per licensee for multiple claimants.

Step-by-step explanation:

In the situation described, where Marin is seeking recovery from the Real Estate Education, Research, and Recovery Fund due to a Minnesota real estate licensee's dishonest practices, the maximum amount she can be paid depends on the statutory limit maintained by the state of Minnesota for this specific fund. Although the exact amount can vary by state and can be subject to change, as of the last available information, in Minnesota, an individual claimant can receive a maximum of $250,000 per transaction from the Recovery Fund, with a total cap of $150,000 per licensee for multiple claimants. It is important for Marin to check the most current regulations and statutes in Minnesota, as these caps may have been updated since the last known information. In such cases, contacting a legal professional or the state's real estate commission would be advisable for the most accurate and updated information.