Alabama Real Estate Practice Exam

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What can victims of ILS fraud do?

File a complaint with the Office of RESPA and Interstate Land Sales
Directly sue the land developer without any formal complaint
Nothing; they have no recourse
Only write a negative review

The correct answer is: File a complaint with the Office of RESPA and Interstate Land Sales

Victims of ILS fraud can file a complaint with the Office of RESPA and Interstate Land Sales in order to seek resolution. Filing a complaint is important because it allows for an investigation into the fraudulent activity and possible enforcement action. Additionally, this option allows for potential compensation or restitution for the victims. Directly suing the land developer without any formal complaint may not be as effective as filing a complaint, as there may not be a clear legal avenue for recourse. Doing nothing is not a viable option as it allows the fraudulent activity to continue and does not provide any chances for resolution. Writing a negative review may bring awareness to the issue, but it does not provide any legal action or resolution for the victim.