Real Estate Agent Bankruptcy

December 9th, 2008 by Questions

I am a Real Estate Agent in Ontario and I went bankrupt in the early 90`s due to job loss. Now I have over 75k in debt and no business and I am married. I just want to know if it will effect my Licence to sell in Ontario. I don`t want to tell my broker and I can`t get any info from the Real Estate Board.

Posted from: Ontario

Questions

One Response to “Real Estate Agent Bankruptcy”



, A licensed trustee said:

To the best of my knowledge, bankruptcy will not have any affect on your licence to sell real estate. If you were a broker holding people’s money in trust it wouold, but as a sales rep you shouldn’t be handling other people’s funds.

As to whether or not you tell your broker, that decision is yours, but depending on where you live, the fact that y9ou have filed for bankruptcy may get back to your broker and the fact that you hid this from them might cause you some problems.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)