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Category Archives: DRE Recovery Account

Do You Have a Claim Against a Real Estate Licensee?

Posted on August 9, 2012 by Michael Daymude
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  The successful prosecution of a lawsuit, where only money is involved, is frequently less than one-half the battle. The successful plaintiff may also have to defend an appeal. If plaintiff prevails on appeal, plaintiff still must still collect. If the defendant is insolvent, collection may be impossible.

  If the defendant is licensed by the California Department of Real Estate, there is hope for at least partial recovery on the judgment from the Consumer Recovery Account. If the judgment contains specific findings and is the result of intentional fraud, misrepresentation, or deceit, or conversion of trust funds in a transaction requiring a real estate license – plaintiff may be able to look to the recovery fund for satisfaction up to $50,000 per transaction. Continue reading →

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Posted in DRE Recovery Account, Fraudulent, Real Estate Licensees | Tagged consumer recovery account, conversion, deceit, fraud, judgment, misrepresentation, real estate licensee | Leave a reply

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