Who is eligible to receive a judgment from the Virginia Real Estate Transaction Recovery Fund?

The Virginia Real Estate Transaction Recovery Fund is designed to provide financial relief to individuals who have suffered losses due to certain actions of licensed real estate professionals. A key aspect of this fund is that it aims to protect consumers involved in real estate transactions.

A residential property owner is eligible to receive a judgment from the Recovery Fund because they represent individuals who may incur financial damages due to misconduct by real estate licensees. This can include issues like fraud, misrepresentation, or other violations of real estate laws that adversely affect the owner’s financial position.

The other entities mentioned, such as brokers, lenders, and spouses of individuals against whom judgments are made, typically do not qualify for benefits from the Recovery Fund. The focus is on consumer protection, specifically geared towards those who have directly suffered due to the wrongful actions of real estate professionals, making the residential property owner the correct choice in this context.