law

Real Estate Guaranty Fund (Maryland)

The Maryland fund, run by the Commission, that reimburses consumers for actual losses from a licensee's theft, embezzlement, fraud or similar misconduct in providing real estate brokerage services involving Maryland property. The maximum is $50,000 per claim, and the claim must be filed within 3 years after the claimant discovered, or should have discovered, the loss. The fund also covers an unlicensed employee of a licensed broker. It excludes the licensee's spouse, out-of-state property, and certain investment losses such as limited partnerships.