What amount can an aggrieved homeowner receive from the recovery fund for claims arising from the same transaction?

The amount that an aggrieved homeowner can receive from the recovery fund for claims arising from the same transaction is capped at $20,000. This limit is established to ensure that the recovery fund can assist multiple homeowners who may have valid claims, protecting the fund's integrity and sustainability. The cap prevents excessive payouts for claims arising from a single issue, which could deplete the fund rapidly.

The $20,000 maximum is designed to provide a level of compensation for homeowners who have suffered losses due to builder misconduct while also managing the overall availability of funds. This approach balances the need for restitution for homeowners with the obligation to maintain the fund's solvency for future claims.

In this context, the other choices do not align with the regulations governing the recovery fund. For example, the value of the construction contract could exceed the allowed recovery amount, while payments based on consent judgments are not specifically limited to claims from the same transaction. Furthermore, limiting recovery only to major structural defects would unnecessarily restrict the types of claims homeowners might bring against builders. Thus, the limit set at $20,000 is a clear guideline within the framework of the recovery fund, providing a structured means of addressing claims while ensuring resource availability.