The Commission administers the real estate recovery fund, which is designed to reimburse persons who suffer monetary damages due to the actions of real estate licensees in the sale of real estate or leasing of commercial property. A claimant must have obtained a final court judgment against a Kansas licensee and be unable to collect the judgment before a claim can be made against the recovery fund. An order of payment from the fund must be issued by a Kansas district court before a claim can be paid out of the recovery fund.
Payments for claims arising out of the same transaction are limited to $15,000, regardless of the number of claimants or parcels of real estate involved in the transaction. For additional information on qualified parties, limitations or conditions, see K.S.A. 58-3066, et seq.