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TREC has two funds to help reimburse consumers who suffer damages caused by TREC license holders: the Real Estate Recovery Trust Account and the Real Estate Inspection Recovery Fund. Each recovery fund has different filing requirements and payment limits.
THIS FORM IS FOR AN INITIAL INACTIVE SALES AGENT LICENSE. DO NOT USE THIS FORM IF YOU WERE LICENSED AS A TEXAS BROKER OR SALES AGENT IN THE PAST TWO YEARS. ALL FEES LISTED ABOVE ARE NONREFUNDABLE AND MUST BE SUBMITTED WITH THE APPLICATION. AN APPLICATION SUBMITTED WITHOUT THE APPROPRIATE FEES WILL BE REJECTED AND RETURNED.
A claim against the Recovery Fund may only be made for alleged acts committed by an individual licensed by the Department as an originator. A licensee is assigned a unique numerical identifier (ID number) by the Nationwide Mortgage Licensing System & Registry (NMLS), the licensing database system utilized by the Department.
1 sty 2024 · This form is to be used for the reinstatement of a sales agent or individual broker license that has been expired more than six months, but less than two years.
TREC updated this form to remove references to the real estate inspection recovery fund, which was eliminated by House Bill 1363 in the most recent session of the Texas Legislature. The updated version is now available on texasrealestate.com .
Recovery Fund Claim (Unlicensed Activity) Eligibility Checklist. Consumers may use the following checklist to determine whether or not they may have a valid recovery claim against the Mortgage Grant Fund to recover out-of-pocket monetary damages (money losses) incurred because of fraud committed by an individual who acted in the capacity of a ...
1 cze 2003 · To be eligible to receive a license under this chapter, a person must: (1) at the time of application: (A) be at least 18 years of age; and. (B) be a citizen of the United States or a lawfully admitted alien; (2) satisfy the commission as to the applicant’s honesty, trustworthiness, and integrity; (3)