New Jersey § 45:15-34
Full text of New Jersey New Jersey Statutes § 45:15-34, with citation guidance and answers to common questions.
§ 45:15-34.
A real estate guaranty fund is established as a special trust fund to be maintained
by the State Treasurer and administered by the New Jersey Real Estate Commission in
accordance with the provisions of this act to provide a fund from which recovery may
be obtained by any person aggrieved by the embezzlement, conversion or unlawful obtaining
of money or property in a real estate brokerage transaction by a licensed real estate
broker, broker-salesperson, or salesperson or an unlicensed employee of a real estate broker; provided, however, that the amount
of such recovery shall not exceed in the aggregate the sum of $10,000 in connection
with any one transaction regardless of the number of claims, persons aggrieved, or
parcels of, or interests in real estate involved in the transaction. The maximum amount recoverable per transaction shall be increased to $20,000 for
claims filed on the basis of causes of action which accrue after the effective date
of P.L.1993, c. 51 ( C.45:15-12.3 et al.).
Frequently Asked Questions About New Jersey § 45:15-34
What does New Jersey Statutes § 45:15-34 cover?
Section 45:15-34 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 45:15-34?
A common citation format is "New Jersey Statutes § 45:15-34" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 45:15-34 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.