New Jersey § 45:15-37
Full text of New Jersey New Jersey Statutes § 45:15-37, with citation guidance and answers to common questions.
§ 45:15-37.
No claim shall be made for payment from the real estate guaranty fund except upon
the reduction to final judgment, which shall include reasonable attorney fees and
costs, of a civil action against the broker, broker-salesperson, or salesperson or unlicensed employee of a broker, and, where the judgment creditor has pursued
all available remedies, made all reasonable searches, and has been unable to satisfy
the judgment from the licensee's assets, the entry of a court order which directs
the New Jersey Real Estate Commission to make payment from the fund. No such order shall authorize a payment to the spouse or personal representative
of the spouse of the judgment debtor. No order shall be entered unless the claimant, either at the time of filing the civil
action or thereafter, files a certification affirming that a criminal complaint alleging
the misappropriation of funds by the broker, broker-salesperson, or salesperson or unlicensed employee has been filed with a law enforcement agency of this State
or of a county or municipality in this State. The criminal complaint shall refer to the same conduct to which reference is made
in the civil action as forming the basis for a claim against the real estate guaranty
fund. The certification shall specify the date on which the criminal complaint was filed
and the law enforcement agency with which it was filed. A copy of the certification shall be provided to the New Jersey Real Estate Commission
upon its being filed. The requirement to file a certification shall apply prospectively only to claims
seeking reimbursement from the fund 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.). Upon delivery by the New Jersey Real Estate Commission to the State Treasurer of a
certified copy of the court order together with an assignment to the New Jersey Real
Estate Commission of the judgment creditor's right, title and interest in the judgment
to the extent of the amount of the court order, the State Treasurer shall make payment
to the claimant from the real estate guaranty fund.
Frequently Asked Questions About New Jersey § 45:15-37
What does New Jersey Statutes § 45:15-37 cover?
Section 45:15-37 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 § 45:15-37?
A common citation format is "New Jersey Statutes § 45:15-37" (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 § 45:15-37 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.