1. What is the maximum the Ohio Real Estate Recovery Fund will pay on account of any one licensee?
Answer & explanation
Answer: B. ORC 4735.12 limits the fund's liability to $40,000 for any one licensee.
law
Ohio Real Estate Recovery Fund
The Ohio Real Estate Recovery Fund (ORC 4735.12) pays consumers who win a final court judgment against a licensee for a license-law violation but cannot collect it. The claimant must exhaust appeals, pursue collection diligently, and apply in the Franklin County Court of Common Pleas within one year after proceedings end. It pays only actual and direct loss, not punitive damages, attorney fees, or interest, and is capped at $40,000 per licensee. Payment automatically suspends the licensee until the fund is repaid with interest.
- Exam tip
- Key numbers: $40,000 per licensee, one year to apply, and a $250,000 balance below which a special assessment of up to $10 per year may be levied. Attorney fees and punitive damages are distractors.
- Example
- Three judgments against one salesperson total $60,000; the $40,000 cap is prorated, so a $30,000 claim receives $20,000.
Related terms & state variants
Sources
Source verification pending. Confirm current requirements with your state regulator.
Last verified: 2026-10-23