What is the maximum total liability for the duration of any licensee's career under the real estate education and recovery account?

The maximum total liability under the real estate education and recovery account for the duration of any licensee's career is set at $30,000. This fund is established to reimburse individuals who have suffered financial losses due to the actions or omissions of a licensed real estate professional. The purpose of this account is to provide a level of protection for consumers and to maintain trust in the real estate profession by ensuring that there are financial remedies available in cases of wrongdoing by licensees.

Understanding the monetary limits set forth in this context is essential for real estate professionals, as it underscores the level of responsibility they have to conduct their business ethically and legally. The established cap encourages accountability and sets expectations for both consumers and licensees regarding financial recourse in the event of misconduct.

The other amounts provided do not reflect the correct maximum liability established by Tennessee law, making $30,000 the definitive figure for licensees' overall liability in this context. This structure supports both consumer protection and the integrity of the real estate profession as a whole.