Question

If a major misdeed is committed by a brokerage that results in a substantial drain on the real estate recovery trust account, what options are available to replenish the fund?

Answer 1

Step-by-step explanation:

Real Estate Recovery Trust Account are accounts that are funded by administrative penalties and dispersed to consumers that are owed damages due to a license holder's conduct and subsequent inability to pay. These licence holders may be charged an additional $10 fee on the renewal date in order to make up for the substantial drain, or receive a special assessment if the replenishment is urgent.