Real Estate Revolving Recovery Fund

Question 1

The “Fund”

Answer 1

The Kansas Real Estate Recovery Revolving Fund
- Provides a financial source for satisfying civil court judgements against licensed brokers, salespersons, and people who work for them

Question 2

Breach of Duty

Answer 2

• prohibited acts as outlined in KS rules and regulations

- crimes under the criminal code (ex. embezzlement, theft)

Question 3

Recovery

Answer 3

When a claimant is awarded a final judgment and funds are recovered from a financial loss. Maximum recovery is 15k

Question 4

Reimbursement

Answer 4

• a licensee is responsible for a loss from the recovery fund must reimburse the fund for the amount paid plus interest
• the licensee’s license is revoked until the Fund has been reimbursed