Here is an update from the Florida Realtors Association regarding the BP Oil Spill Fund and the $16 Million for Florida Real Estate Professionals that was previously announced.
Last August, Kenneth Feinberg took over the oil spill compensation process from BP. He decided early on that the Gulf Coast Claims Facility (GCCF) would only cover losses for lost rental income, not for losses incurred because buyers didn’t go to contract on a home or cancelled a sales contract. For these individuals, Florida Realtors and other gulf coast state Realtor associations convinced Feinberg to set up a special fund for real estate industry claims. But the deadline for filing claims against the real estate industry fund was Nov. 23, 2010.
Continue Reading Update: BP Oil Spill Fund and Florida Real Estate Claims
Tags: Florida, real estate

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