After receiving a court judgment, how long does a complainant have to file a claim to receive payment from the Fund?

Once a complainant has received a court judgment related to a real estate transaction, they have a specific time frame within which to file a claim to receive payment from the Real Estate Recovery Fund. In Virginia, this period is set at 6 months following the entry of the judgment. This timeframe is crucial as it ensures that claims against the fund are made in a timely manner, allowing for proper management of the fund and the processing of claims.

This provision is designed to protect both the interests of the complainant seeking restitution and the integrity of the fund itself, which is meant to serve those who have suffered losses due to the misconduct of licensed real estate practitioners. Understanding this timeline is essential for complainants to ensure they do not miss the opportunity to seek compensation for their losses.