Maryland License Law (alternative)
In Maryland, the Real Estate Guaranty Fund provides compensation to consumers who have suffered losses from:
AProperty damage during a showing
BFraudulent or dishonest acts by a licensed real estate broker or salesperson✓ Correct
CMarket value declines after purchase
DUndisclosed defects found after closing
Explanation
The Maryland Real Estate Guaranty Fund compensates consumers who suffer financial losses directly resulting from fraudulent or dishonest acts by a licensed Maryland real estate broker or salesperson.
Related Maryland Maryland License Law (alternative) Questions
- Under Maryland law, a broker can only operate a branch office if:
- Which Maryland license type allows the holder to receive compensation directly from consumers for real estate services?
- A Maryland licensee who moves from one broker to another must transfer their license by:
- In Maryland, a 'designated broker' or 'principal broker' must:
- A Maryland real estate broker who violates the Consumer Protection Act's prohibition on deceptive practices may be subject to penalties administered by:
- A Maryland real estate licensee who has been convicted of a crime involving moral turpitude must report it to MREC within:
- An out-of-state broker who wants to refer a Maryland buyer to a Maryland broker in exchange for a referral fee:
- A Maryland broker who allows a salesperson to operate without a license after it expires is:
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