Leasing License Practice Exam

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How long does an aggrieved party have to make a claim for recovery from the Real Estate Recovery Fund?

  1. One year

  2. Two years

  3. Three years

  4. Five years

The correct answer is: Two years

When someone is seeking recovery from the Real Estate Recovery Fund, they must file their claim within two years from the date of the injury or the occurrence that gave rise to the claim. This time frame is established to ensure that claims are made while evidence is still fresh and witness recollections are reliable. The two-year period is a standard length of time consistent with many legal claims, allowing both the claimant and the responsible parties sufficient time to gather relevant information but also ensuring claims are pursued in a timely manner to promote efficiency in resolving disputes. This helps maintain the integrity of the recovery process and supports the operational effectiveness of the fund.

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