Emergency Fund for Real Estate brokerage Claims Available 8-23-2010

Real Estate Broker/Owner with Igoe Realty P.A.

Dear AEs and Board Presidents,

Tomorrow morning Florida Realtors will announce that effective 8/23/2010 The Gulf Coast Claims Facility has set aside an emergency fund for eligible real estate licensees, who suffered specified loss of income as a result of the Deepwater Horizon Spill.  This fund will be administered through a claims adjustment firm called NCA.   To learn more about filing a claim members may call 1-888-498-6944.  

Claimants must hold a current Florida real estate license and have been actively licensed in Florida at the time the loss of income was incurred to be eligible under this fund.  The only claims allowed under this emergency fund are for those based on loss of income, as a result of the Spill. 

All claims based on a loss of commission for a specific transaction for the  sale of real estate may only be filed by a broker or brokerage firm. 

Commissions lost on both Residential & Commercial sales are eligible.  Both Brokers and sales associates may file individually for a loss of income. 

Claims that ARE NOT ELIGIBLE for this fund include, commercial real estate income, rental income, rental commissions and claims resulting from property damage or other personal claims.  These claims should be filed with the Gulf Coast Claims Facility directly.  As this is an emergency fund, it is not designed to fully reimburse losses

Claims will be limited to $12,000 per Claimant for all losses.  Initial claims are restricted to loss of income from April 20, 2010, through July 31, 2010.  Subsequent claims may be filed for loss of income from August 1, 2010, through October 31, 2010, depending on fund availability.  A separate claim will be required for each corresponding time period.  Maximum payment to any individual claimant, in aggregate, shall not exceed $12,000. 

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