Where does the money in the New Mexico Real Estate Recovery Fund come from?

The money in the New Mexico Real Estate Recovery Fund primarily comes from licensing fees collected from real estate agents. These fees are part of the licensing process and help to support the Fund, which is specifically designed to provide financial assistance to consumers who may have experienced a loss due to the actions of a licensed real estate broker. The Fund is crucial in ensuring that consumers have a way to recover damages, facilitating trust in the real estate profession.

Fines from real estate violations, while they may contribute to various state funds, are not the primary source of this particular fund. State tax revenues do not play a role in funding the Recovery Fund, as it is supported specifically by funds generated through the licensing process. Contributions from public donations are also not a factor, as the fund relies on structured fees associated with the real estate licensing system rather than voluntary contributions. This structure ensures that the fund remains sustainable and directly tied to the real estate industry.