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Tenant situation when landlord declares bankruptcy

I live in a 6 unit apartment complex the owner of which is filing for bankruptcy. Will I be forced to vacate the apartment? What happens to the last month rent paid to the owner? Do tenant protection laws apply?
I live in Guelph , Ontario.

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One Response to “Tenant situation when landlord declares bankruptcy”

Barton Goth GCO Bankruptcy Trustees said...

This is a question that I am not in a position to answer. The best thing to do is to contact the specific trustee who is handling the bankruptcy of the owner and ask him what is going to happen with the building.
While it isn’t guaranteed, normally the building would be sold as it is a non-exempt asset, the new owners would be bound by any contractual obligations of the old (i.e. any lease agreements that were in place) and you would simply start dealing with the new owner. But again, it is only speculation as to what might happen, only the trustee on this file could tell you what is happening so you should contact them.