After a violation is confirmed and damages are awarded, how much will the Arkansas recovery fund pay if the damages are $100,000?

In Arkansas, the real estate recovery fund is designed to protect consumers who have suffered losses due to the actions of a real estate licensee. When a consumer is awarded damages, the fund has specific limits on how much it will pay out. The limit for claims is typically set at $75,000 per transaction or per licensee involved in the case.

Thus, even if damages awarded are significantly higher, such as $100,000, the Arkansas recovery fund is restricted by this statutory limit and will only reimburse a maximum of $75,000 to cover the damages. This ceiling protects the fund while still allowing recovery for consumers who have suffered losses due to improper actions in the real estate field.

Understanding this limit is crucial for both consumers and real estate professionals when navigating situations that might lead to claims against the recovery fund.