REAL ESTATE RECOVERY TRUST ACCOUNT
Known as the The Real Estate License Act
The act spans §§ 1101.001 to 1101.806 (164 sections).
Applied in 3 court decisions — leading case Wilson v. Bloys (2005)
Most recently applied in Texas Real Estate Commission v. Bayless (April 2012)
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
(a) The commission shall maintain a real estate recovery trust account to reimburse aggrieved persons who suffer actual damages caused by an act described by Section 1101.602 committed by:
(1) a license holder;
(2) a certificate holder; or
(3) a person who does not hold a license or certificate and who is an employee or agent of a license or certificate holder.
(b) The license or certificate holder must have held the license or certificate at the time the act was committed.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.