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Landlord declaring bankruptcy

I just moved into a property and now my landlord tells me he might be declaring bankruptcy? What do i do? Do I now have to pay my rent to a trustee or continue to pay the landlord until told otherwise. Can the trustee kick me out, or the bank if a foreclosure is involved?

Posted from: Ontario

One Response to “Landlord declaring bankruptcy”

A licensed trustee said...

If you have a lease then you should be relatively safe until the lease expires – if your landlord files for bankruptcy you will likely end up making your rent payments to the mortgage company. If you do not have a signed lease you’re less safe – you may be asked to move with 30 days notice.

If your landlord does file for bankruptcy contact their trustee directly – they should be able to explain what the plan is for the building that you are in.