What is the max from Delaware Real Estate Guaranty Fund per transaction?
Question & Answer
Review the question and all answer choices
$10,000
A ($10,000) is incorrect as it represents a lower amount than Delaware's actual maximum. Students might confuse this with the initial deductible or minimum claim threshold in some states, but Delaware's specific limit is higher at $25,000.
$25,000
$50,000
C ($50,000) is incorrect as it exceeds Delaware's actual maximum. Students may be thinking of other states with higher limits or confusing this with the aggregate fund limit rather than the per-transaction maximum.
$100,000
D ($100,000) is incorrect as it significantly exceeds Delaware's established limit. This amount might represent the aggregate fund limit in some states or a misunderstanding of the per-transaction cap.
Why is this correct?
The correct answer is B ($25,000) because Delaware state law specifically sets the maximum payout from the Real Estate Guaranty Fund at $25,000 per transaction. This is a regulatory limit that protects consumers while managing the financial obligations of the fund.
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