Minnesota License Law
A Minnesota licensee is found guilty of fraud in a real estate transaction. The injured party can seek compensation from which Minnesota fund?
AMinnesota Housing Finance Agency fund
BMinnesota Real Estate Recovery Account✓ Correct
CMinnesota Department of Commerce General Fund
DThere is no such fund in Minnesota
Explanation
Minnesota maintains a Real Estate Recovery Account that compensates consumers who suffer financial losses due to licensed real estate professionals' fraud, misrepresentation, or violations of license law. This fund provides a last resort for victims who cannot collect from the licensee directly.
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