Who is eligible to file a claim with the Recovery Fund if they suffered a monetary loss from a licensee's actions?

The Recovery Fund is designed to provide financial relief to individuals who have suffered a monetary loss due to the wrongful actions of a licensed real estate broker or salesperson. To be eligible to file a claim with the Recovery Fund, a claimant must have experienced an actual financial loss as a direct result of a licensed professional's misconduct, such as fraud, misrepresentation, or similar violations.

Individuals who have not incurred any monetary loss cannot benefit from the Recovery Fund, as the purpose is to compensate those directly harmed by the actions of a real estate licensee. Similarly, brokerages or other licensees involved in a transaction are not able to file claims for the Recovery Fund, as it is intended solely for the protection of consumers.

Thus, only a person who has experienced a financial loss due to the actions of a licensed individual qualifies to file a claim with the Recovery Fund.