questions & answers

Question: I'm looking for some guidance regarding the AZ Real Estate Recovery Fund. I submitted a claim against the fund some time ago but it was denied for multiple reasons, all of which were inaccurate. I'd like some advice from somebody with experience with getting reimbursement from the fund. The basis of my claim is the fact that my property manager embezzled security deposits and when his scam ran its course, he committed suicide. The fund is clearly setup to help those who have been a victim of real estate fraud, but the commissioner weaseled her way out of my claim on technicalities.

Answer: The Arizona Real Estate Recovery Fund applies to real estate transactions, such as the purchase of a home, and the sales persons of those types of transactions. Security deposits are addressed under the Arizona Landlord Tenant Act. The return of security deposits are more specifically address under the following website.  A small claims process can be initiated, if your landlord does not meet his obligations.