by Rodney S. Woodbury, Esq.
Woodbury, Morris & Brown
Nevada's Residual Recovery Fund
What is the Recovery Fund? Established in 1999, Nevada’s Residential Recovery Fund is designed to protect Nevada homeowners who contract with licensed contractors and are harmed by the contractor’s failure to properly perform qualified services.
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|Who Administers the Fund? The Nevada State Contractors Board.
Who is Eligible to Recover? Only owners of owner-occupied, single-family residences who contract with licensed contractors for the performance of construction, remodeling, repair, or improvement are eligible to recover from the Fund. It is not available to homeowners who hire unlicensed contractors or who do not live in single-family residences. If the Board determines that you suffered actual damages as a result of one or more specified violations of the law by the contractor or if you have obtained a judgment in a court of law for recovery of damages that has not been paid, you may apply to the Board to receive an award.
Filing, Processing, and Hearing a Claim. Claim forms and filing instructions are available on the Board’s website www.nvcontractorsboard.com. Once a claim has been received, the contractor will have the opportunity to respond, then the Board will conduct an investigation and conduct a public hearing. You may, but need not, be represented by an attorney at the hearing; however, attorneys’ fees are not recoverable from the Fund. The law requires that the Board act upon a complaint within 6 months after it is filed.
Time Limit for Filing a Claim. A claim for recovery from the Fund must be filed within 4 years after completion of the work or, if you are seeking to recover for an unsatisfied judgment obtained in court, within 2 years from the date the judgment was granted.
Limits on the Amount of Recovery. The maximum recovery from the Fund is $35,000 per claim and $400,000 from any given contractor. Recovery from other sources, such as judgments or settlements, will also be deducted from any amount awarded from the Fund.
Other Considerations. Recovery of your entire loss from the Fund is never guaranteed.
Rod Woodbury can be reached at email@example.com.
688 Wells Rd #A
Boulder City, Nevada 89005
Phone (702) 294-1392 Fax (702) 294-1392
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