Chandra v. Schulte
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The Supreme Court reversed nine district court orders directing payment from the Nevada Real Estate Education, Research and Recovery Fund (the Fund), one to Melani Schulte individually and eight to various LLCs in her control, stemming from William Schulte's fraudulent management of properties, holding that the spousal exception to Fund recovery in Nev. Rev. Stat. 645.844(4)(a) applied at the time of the misconduct and that transactions involving one's own properties do not qualify for Chapter 645's protections.
The Fund compensates victims of real estate fraud whose judgment against a fraudulent real estate licensee is uncollectible. The district court issued the nine orders stemming from the fraudulent management of properties by William, Melani's then husband. All but one of the properties were jointly owned by the Schultes. The Supreme Court reversed the orders, holding (1) because Melani and William were married at the time of the fraud, the spousal exception prohibits Melani's individual recovery; and (2) because transactions involving one's own properties do not require a real estate license, the district court erred in granting awards to the eight LLCs.
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