Question

To receive payment from the Real Estate Recovery Fund the injury party must:

a. File a notice of claim with the Real Estate Commission
b. Win a lawsuit against the agent and obtain a judgement against the agent
c. File a partition for payment with the Board of Realtors grievance committee
d. Obtain a court order ordering the Fund to pay

Answer 1

To receive payment from the Real Estate Recovery Fund, the injured party must first win a lawsuit against the real estate agent and obtain a judgment against them. Then, if the agent is unable to satisfy the judgment, the injured party can seek payment from the Fund.

Step-by-step explanation:

To receive payment from the Real Estate Recovery Fund, the injured party must win a lawsuit against the agent and obtain a judgment against the agent.

It's not enough to file a notice of claim with the commission or petition the Board of Realtors grievance committee, and the court will not issue an order for the Fund to pay without a judgment being awarded first.

After winning the lawsuit and obtaining a judgment, the injured party may then seek recovery from the Fund if the agent can't satisfy the judgment through their personal assets or insurance.