Real Estate Recovery Fund
A Florida fund that reimburses a member of the public who holds an unpaid court judgment against a licensee for certain violations.
The Florida Real Estate Recovery Fund can reimburse a member of the public who wins a court judgment against a licensee for specified violations in a real estate transaction, when that judgment cannot be collected from the licensee.
After the fund pays a claim, the licensee's license is automatically suspended until the licensee repays the fund in full, plus interest.
On the exam
Exam trap
Tested in
Violations and Penalties (3% of the exam)
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- FREC (Florida Real Estate Commission)
The seven-member commission inside DBPR that adopts real estate rules, issues and revokes licenses, and disciplines licensees.
- Citation (Discipline)
A streamlined disciplinary tool for specified minor violations, carrying a set penalty the licensee can pay rather than contest.
Sources
This definition is Florida real estate exam-prep education, not legal, tax, or professional advice. Verify current rules against the official source before relying on them for a real transaction. Back to the full glossary.