What Is The Maximum Reimbursement Limit For Florida Real Estate?

The Florida Real Estate Recovery Fund is a financial resource designed to provide compensation for individuals or entities who have suffered financial losses due to fraudulent actions committed by a licensed real estate professional. It serves as a safeguard against such misconduct. In the event that multiple judgments are awarded against a real estate licensee, it’s important to know the maximum reimbursement limit available from this fund. In Florida, the maximum reimbursement that can be paid from the Florida Real Estate Recovery Fund when multiple judgments are awarded against a licensee is $150,000. This financial threshold ensures that victims of real estate fraud have access to a significant level of restitution to help alleviate their losses.

What is the maximum amount available through California’s Real Estate Recovery Fund? When an application is approved, eligible applicants receive compensation for their verifiable and direct financial losses incurred during a real estate transaction. The reimbursement is subject to a statutory cap, allowing a maximum of $50,000 per individual transaction. However, each licensee has the potential to receive a cumulative maximum of up to $250,000 in total reimbursements from the fund. This means that if multiple transactions result in losses, a licensee can potentially claim compensation up to this overall limit.