Calgary, Alberta – On May 20, 2020, the Real Estate Council of Alberta (RECA) cancelled the licence of Mountain Park Real Estate Ltd. in Calgary.
Under Section 35(1)(c) of the Real Estate Act Rules, RECA may cancel the licence of a brokerage if an investigator or auditor of RECA is denied access to the registered business office or to any or all records of the brokerage or, is in any way, prevented from carrying out their duties and responsibilities under the Real Estate Act.
As a result of the brokerage licence cancellation, the registrations of any industry professionals who were registered with this brokerage are cancelled and service agreements with this brokerage end. To read more about what to do if your brokerage shuts down, or if a brokerage you are dealing with shuts down, please see the Information Bulletin: When your real estate brokerage closes.
All active trades in real estate involving this brokerage are affected. Brokerages or consumers who have pending purchases or sales with deposits being held in trust with this brokerage should contact RECA and amend their purchase contract to transfer their trust deposit to a different brokerage or lawyer.
RECA has taken steps to protect consumer funds. If you have questions or concerns regarding the cancellation of this brokerage licence, or if you have funds being held in trust by this brokerage, please contact RECA at: 403-228-2954, or by email at: info@reca.ca.
