law

Delaware Real Estate Guaranty Fund

A fund under 24 Del. C. §2922 that pays consumers who win a court judgment against a Delaware licensee for theft, forgery, fraud, misrepresentation, or deceit and cannot collect. The claimant files with the Commission within 60 days after the final judgment, with proof of diligent collection efforts. Payout is capped at $50,000 per transaction. Licensees pay a one-time $25 fee, plus a pro rata assessment if the balance falls below $250,000. Spouses of the debtor cannot recover, and bankruptcy does not erase the licensee's repayment duty.