law
Real Estate Recovery Account (Wyoming)
Wyoming's real estate recovery account pays members of the public with a final judgment against a licensee based on fraud, willful misrepresentation, deceit, or conversion of trust funds, after a writ of execution is returned unsatisfied. The claimant files a verified petition with the Commission within one year after all proceedings end. It pays unpaid actual damages up to $10,000, shared proportionally if funds are short. Licensees pay a $20 fee at licensing and renewal, split with an education fund based on the balance. Payment leads to suspension and subrogation.
- Exam tip
- '20 in, 10 out, 1 year to ask.' Negligence alone does not qualify; that is what E&O covers.
- Example
- A buyer's $16,000 judgment for converted earnest money is uncollectible; the account pays at most $10,000, leaving $6,000 owed by the salesperson.
Related terms & state variants
Sources
Source verification pending. Confirm current requirements with your state regulator.
Last verified: 2026-10-23