North Dakota Real Estate Practice Exam

What documentation is required when filing a claim against the Real Estate fund?

1. A sales contract

2. Invoices and receipts

3. A judgment from a court

4. Listing agreements

The correct answer is: A judgment from a court

When filing a claim against the Real Estate fund in North Dakota, the required documentation is a judgment from a court of law. This is essential because the purpose of the Real Estate fund is to provide financial protection to consumers who have suffered a loss due to a licensee's unprofessional conduct or fraud in a real estate transaction. The judgment serves as evidence that a legal decision has been made in favor of the claimant, thereby justifying the claim against the fund. Other types of documentation mentioned, such as a sales contract, invoices and receipts, or listing agreements, are not sufficient on their own to support a claim against the Real Estate fund. These documents may be part of the transaction that led to the dispute, but without a court judgment that confirms the liability of the real estate professional, the claim cannot be processed. This requirement helps ensure that claims are legitimate and have been formally adjudicated before access to fund resources is granted.