When a person obtains a final judgment against a licensee and seeks payment from the Real Estate Recovery Fund, what is the time frame for making application for payment from the fund?
A. Within six months of the date of the violation that resulted in the judgment being issued.
B. Application can be made at any time after termination of the proceeding, since no specific time frame is provided by law.
C. No more than one year after the termination of the proceedings, including reviews and appeals, in connection with the judgment.
D. Application must be received by the commission within 30 days of the initial decision of the court directing the licensee to pay compensation.
An aggrieved person who has been awarded a judgment by a court of competent jurisdiction must make application to the recovery fund no more than one year after the termination of the proceedings.
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Exam Details
Pennsylvania Specific Sales Agent Real Estate Exam.
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Added: 9/18/2008
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