DRE & Licensing
What is the maximum amount a single claimant can recover from the California Real Estate Recovery Account for acts committed by one licensee?
A$20,000
B$50,000✓ Correct
C$250,000
DUnlimited recovery up to the claimant's actual damages
Explanation
The Recovery Account has a maximum payout of $50,000 per transaction and $250,000 per licensee over the life of their license. A single claimant may recover up to $50,000 for losses caused by one licensee's misconduct in a single transaction. After payment from the Recovery Account, the licensee's license is automatically suspended until the amount is repaid.
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