Minnesota License Law
The Minnesota Real Estate Recovery Account can pay up to what maximum amount per transaction to compensate aggrieved consumers?
A$10,000
B$25,000
C$50,000✓ Correct
D$100,000
Explanation
The Minnesota Real Estate Recovery Account provides up to $50,000 per transaction (with a lifetime limit per licensee of $150,000) to compensate consumers who have suffered financial losses due to a licensed real estate professional's fraud or violations. After recovery from the account, the licensee's license is suspended until the amount is repaid.
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