Tenderfoot Mountain Properties v. Jones

COYTE, Judge.

Plaintiff appeals from a judgment of the trial court refusing to allow it to recover from the real estate recovery fund. We affirm in part and reverse in part.

Richard T. Jones was a real estate broker for Ski Country Development Corporation (SCDC), which was engaged primarily in the sale of properties for Tenderfoot Mountain Properties (TMP). Because of Jones being a real estate broker, SCDC was also licensed as a broker. See § 12-61-103(7) and (8), C.R.S.1973. Jones owned more than 20% interest in TMP and was the managing partner.

As broker, SCDC maintained an escrow account in…