What is the maximum amount that may be paid from the real estate recovery fund per judgment against a licensee?

The maximum amount that may be paid from the real estate recovery fund per judgment against a licensee is $20,000. This limit is important because it provides a safeguard for consumers who have suffered financial loss due to mishandling by a licensed real estate professional. The fund serves as a source of compensation for damages awarded in legal judgments against licensees who are unable to satisfy these judgments from their own resources.

The significance of this limit is also tied to the broader purpose of protecting the public and maintaining trust in the real estate profession by ensuring that there is recourse when licensees commit acts of wrongdoing. Understanding this limit helps potential claimants to set realistic expectations regarding the recovery process through the fund.

It's essential to differentiate this specific payout limit from other options that may represent cumulative amounts or total caps that are not applicable per individual judgment.