星空体育app下载

星空体育app下载 has two funds to help reimburse consumers who suffer鈥痙amages caused by 星空体育app下载鈥痩icense holders:鈥痶he鈥疪eal Estate Recovery Trust Account and鈥痶he鈥疪eal Estate Inspection Recovery Fund. Each recovery fund has different filing requirements and payment limits.鈥���

Consumers may鈥痜ile an application for payment from the Real Estate Recovery Trust Account after filing suit and obtaining鈥痑鈥痜inal鈥痡udgment in civil court for damages against a licensed real estate broker, sales agent or easement/right-of-way agent鈥�(or an employee or agent鈥痮f鈥痵uch a license holder) for certain鈥痗onduct.聽聽

The Real Estate Inspection Recovery Fund was repealed by . However, for an application in which the events giving rise to the claim occurred before September 1, 2023, consumers have until March 1, 2026, to file for payment from the Real Estate Inspection Recovery Fund, after filing suit and obtaining a鈥痜inal鈥痡udgment in civil court for damages against a licensed鈥痠nspector鈥痜or certain鈥痗onduct. 鈥���

These recovery funds are "funds of last resort." They鈥痟ave been created鈥痶o reimburse consumers for out-of-pocket鈥痙amages caused by license holders when the鈥痩icense holders cannot pay for those damages.鈥� If you have received any payment or settlement towards the amount of judgment from a license holder, another defendant, or the license holder鈥檚 insurance company, the鈥痑mount of that payment or settlement may reduce the amount you may recover from the recovery funds.聽

What are the payment limits for the recovery funds?聽

Regardless of the number of applicants, payments from the Real Estate Recovery Trust Account may not exceed $125,000 per transaction, with a maximum of $250,000 per license holder for multiple transactions. Payments from the Real Estate Inspection Recovery Fund may not exceed $12,500 per transaction, with a maximum of $30,000 per license holder for multiple transactions.聽

What is the difference between a recovery fund claim and a complaint with 星空体育app下载?聽

You do not have to file a complaint with 星空体育app下载 to apply for payment from one of the recovery funds. When you鈥痜ile a complaint, 星空体育app下载 will investigate and may鈥痑ssess an administrative penalty as part of the disciplinary action taken against a license holder. The administrative penalty鈥痠s paid鈥痶o 星空体育app下载 for deposit into the recovery funds. It鈥痠s not paid鈥痶o the person who filed the complaint.鈥���

You may only file an application for payment from one of the recovery funds after you have obtained a civil court judgment awarding damages against a 星空体育app下载 license holder鈥痑nd complied with other requirements.聽

Filing a Claim for Reimbursement聽

The process for filing an application for payment from the recovery fund is not the same for everyone.鈥� We have provided some general guidelines below for your reference.鈥� You may also email 星空体育app下载 staff at鈥�[email protected]鈥痶o help answer鈥痝eneral鈥痲uestions about the process.聽

Obtain a Final Judgment聽

Before you file an application for payment from one of the recovery funds, you must file a lawsuit in court and obtain a civil judgment from the court against a 星空体育app下载 license holder. You鈥痬ust file your lawsuit in the court within two years after the events giving rise to your claim occurred. So, even if you file鈥痑 complaint with 星空体育app下载, do not wait until the 星空体育app下载鈥痗omplaint鈥痯rocess is complete before you file a civil lawsuit or you run the risk of the statute of limitations expiring. 鈥疉fter the court grants a鈥痜inal鈥痡udgment in your lawsuit, you must also obtain an abstract of鈥痡udgment and writ of execution before filing an application for payment from the recovery fund with 星空体育app下载. Please note that if you are going to obtain an鈥痑greed鈥痡udgment, it鈥痬ust be submitted鈥痶o 星空体育app下载 BEFORE being signed by the judge if you intend to request reimbursement from the Real Estate Recovery Trust Account.聽

Obtain an Abstract of Judgment聽

Once you obtain a final judgment from the court, you will need to obtain an Abstract of Judgment. Each Texas鈥痗ounty鈥痬ay have different requirements for obtaining an鈥痑bstract鈥痮f鈥痡udgment. You will need to check with the County Clerk's Office in the county where you obtained the judgment and follow the requirements to obtain an鈥痑bstract鈥痮f鈥痡udgment. 鈥���

After you obtain an鈥痑bstract鈥痮f鈥痡udgment, you will need to file it with the County Clerk in the real property records of the county in which the court judgment鈥痺as obtained. For example, if you sued a license holder and obtained a judgment in a Travis County court, you would file the abstract of judgment with the Travis County Clerk in the Travis County real property records.鈥痀ou will need to submit a file-stamped copy of the abstract of judgment to the 星空体育app下载 with your recovery fund application.聽

Obtain a Writ of Execution聽Returned聽Nulla聽Bona聽

You must ask the court to issue a writ of execution.鈥� A writ of execution is a written order to the constable or sheriff to locate the defendant and demand payment of the judgment.鈥� If the defendant has no assets that can be sold to satisfy the judgment, the constable or sheriff鈥痷sually鈥痺ill return the writ of execution to the court 鈥渘ulla鈥痓ona,鈥� which is a Latin phrase鈥痬eaning 鈥渘o鈥痝oods.鈥濃����

The words 鈥渘ulla鈥痓ona鈥濃��(or its equivalent)鈥痬ust appear on the writ return.鈥� You must submit a copy of the writ of execution and the officer's return stating 鈥渘ulla鈥痓ona鈥� to 星空体育app下载 with your recovery fund application.聽

Filing Your Application聽

After obtaining a judgment, abstract of judgment, and writ of execution, you may鈥痜ile an Application for Order Directing Payment from the Real Estate Recovery Trust Account or Real Estate Inspection Recovery Fund. This application鈥痬ust be filed鈥痠n the same court and cause number in which you obtained the judgment. You will need to submit a file-stamped copy of the application, along with copies of the鈥痜inal鈥痡udgment, abstract of judgment, and鈥痺rit of execution to 星空体育app下载. It is not necessary to set a court date at this time.鈥� Most claims can be resolved without the need to go to court for a hearing.聽

Review and Approval聽

Once 星空体育app下载 receives your application, and鈥痶he鈥痙ocuments mentioned above, we will review the documents you have submitted and send you an acknowledgment letter describing any additional information that鈥痠s needed鈥痶o review your application.鈥疭ome of the most common information requested includes documents鈥痩ike a file-stamped copy of the original petition, an explanation of the facts and circumstances surrounding the case, and attorney billing statements.鈥疘f your鈥痑pplication is eligible for payment from the recovery fund, we will recommend approval and payment of the application to the Commission at their next regularly scheduled meeting. Depending on the date of the next Commission meeting and the receipt of ALL information requested, it may take several months to complete this process.鈥疘f your application is not eligible for payment from the recovery fund, we will recommend denial鈥痑nd you may contact the Office of the Attorney General to request a hearing to contest the denial.聽聽

If the Commission approves the application for payment, some additional paperwork鈥痬ust be completed鈥痓efore payment can be made. We will prepare an Order Directing Payment and an Assignment of Judgment. These documents鈥痬ust be reviewed and approved by the Attorney General. Once approved, the Attorney General will send these two documents to the applicant or their attorney with instructions on how to sign the documents, file them with the Court, and send them back to the Office of the Attorney General. The Attorney General will return the documents to 星空体育app下载 for final processing.鈥疧nce the 星空体育app下载 receives the鈥痙ocuments from the Attorney General, it usually takes 2-3 weeks for 星空体育app下载 to process the application and mail out the checks.聽

As you can see, filing an application for payment from one of the recovery funds is a long and somewhat complicated process. You may submit an鈥痑pplication on your own or hire an attorney to help you with this process.鈥� If you hire an attorney, you may seek reimbursement for reasonable attorney鈥檚 fees paid as part of your application for payment from one or both of the recovery funds.鈥� Reasonable attorney鈥檚 fees are eligible for payment from the recovery funds, but only up to the payment limits of each fund.聽

星空体育app下载 staff is available to answer questions about the process.