BrokerageIndustry News

Oil spill claims deadline imminent

Emergency claims must be submitted by Nov. 23
Published on Nov 17, 2010

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by CareyBot

The deadline for real estate professionals to submit emergency claims for loss of income as a result of the Gulf oil spill is fast approaching. In August, the $20 billion BP Claims Fund for victims of the spill set aside $60 million for real estate licensees in the five states affected by the spill: Texas, Louisiana, Mississippi, Alabama and Florida.

Agents and brokers have until Nov. 23 to file for an emergency advance payment of up to $12,000 through a local Realtor association. Such payments are "available to individuals and businesses that are experiencing financial hardship resulting from damages incurred by the spill," according to the