What is the primary purpose of Oregon's Real Estate License Law Recovery Fund?
Correct Answer
B) To compensate consumers who have an unpaid court judgment against a licensee for misconduct and cannot collect from the licensee
Oregon's Real Estate License Law Recovery Fund exists to protect consumers who have obtained a court judgment against a licensed real estate professional for misconduct but are unable to collect the judgment from that licensee. Claimants must have exhausted all other means of collection before applying to the fund. The fund is not used to reimburse licensees, cover agency operating costs, or assist homebuyers with down payments.
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