Which office oversees the management of the Virginia Real Estate Transaction Recovery Fund?

The Virginia Real Estate Transaction Recovery Fund is managed by the Department of Professional and Occupational Regulation (DPOR). This department is responsible for regulating various professionals and ensuring compliance with their respective laws. The recovery fund is designed to provide financial relief to consumers who have suffered monetary loss due to the actions of a licensed real estate agent or broker, specifically in cases where restitution is not possible through other means.

The DPOR plays a crucial role in overseeing this fund, ensuring it is properly maintained and that claims are processed in accordance with Virginia law. This oversight is critical for maintaining public trust in the real estate profession and providing consumer protection.

Other offices mentioned, such as the Real Estate Commission, focus primarily on the licensing and regulation of real estate professionals. While they may have a role in the broader realm of real estate transaction oversight, they do not specifically manage the transaction recovery fund. Similarly, while the Office of the Attorney General may be involved in legal enforcement or consumer protection matters, it does not oversee the fund's administration. The Department of Real Estate Services is not a recognized entity in Virginia's regulatory framework for real estate, which further confirms that DPOR is the correct entity in charge of this fund.