What is the maximum recovery fund compensation available for multiple aggrieved parties against one licensee in Kentucky?

In Kentucky, the maximum recovery fund compensation available for multiple aggrieved parties against one licensee is indeed $50,000. This amount is intended to protect consumers from financial losses due to the actions of a licensed real estate professional.

The recovery fund serves as a safety net, ensuring that individuals who have suffered damages as a result of a licensee's misconduct can receive reimbursement. When multiple parties are involved, the total recovery cannot exceed $50,000 for all claims against a single licensee, regardless of how many parties are seeking compensation. This cap is established by state law to maintain the integrity of the fund while ensuring that adequate protection is available for consumers facing loss.

Understanding this limit is essential for real estate professionals and their clients, as it highlights the importance of ethical conduct within the industry and the safeguards in place for consumers.