law
Real Estate Education, Research, and Recovery Fund (Utah)
Utah's Real Estate Education, Research, and Recovery Fund pays consumers with uncollectible judgments against licensees for fraud, misrepresentation, or deceit, and funds education and research. Brokers pay up to $18 and sales agents up to $12 per year into it. The claimant must notify the Division within 10 business days after filing suit and show collection efforts failed. It pays actual damages only, capped at $15,000 per transaction and $50,000 per licensee. Any payout automatically revokes the license; the person cannot reapply until the fund is repaid with interest.
- Exam tip
- '12 and 18 in, 15 and 50 out. Payout means revoked.' Suspension until repaid is the classic distractor.
- Example
- Three buyers from one fourplex sale hold $27,000 in fraud judgments; the fund pays at most $15,000 total for that transaction.
Related terms & state variants
Sources
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Last verified: 2026-10-23