What is the latest date on which an injured party may file a lawsuit against a broker for monetary damages in relation to the real estate recovery fund?

The correct answer pertains to the timeline established for filing a lawsuit concerning the real estate recovery fund. In South Dakota, a party who has suffered damages due to a broker's actions has a defined period within which they can seek financial restitution. Specifically, the law allows for a lawsuit to be filed within one year after a judgment against the broker becomes final. This requirement is crucial as it underscores the importance of the judicial resolution before pursuing a claim on the recovery fund.

Filing after a judgment ensures that the injured party has a concrete basis for their claim, as the judgment confirms the wrongdoing and establishes the liability of the broker. This protective measure helps prevent frivolous claims and verifies the existence of substantial harm as adjudicated by a court.

Understanding this timeline is essential for individuals involved in real estate transactions, as it reflects the procedural steps necessary to secure damages through the recovery fund effectively. This clarity enables parties to navigate legal recourse judiciously.