Under Alberta's Real Estate Act, what happens to a real estate professional's license if they are convicted of a Criminal Code offense involving fraud?
Correct Answer
C) License may be cancelled or suspended at RECA's discretion
RECA has the discretionary authority to cancel or suspend a license when a licensee is convicted of a Criminal Code offense involving fraud, as this directly relates to their fitness to practice real estate. The regulator will consider the specific circumstances and public interest in making this determination.
Why This Is the Correct Answer
Option C is correct because under Alberta's Real Estate Act, RECA has discretionary authority to cancel or suspend licenses when licensees are convicted of Criminal Code fraud offenses. The Act grants RECA the power to assess each case individually, considering the specific circumstances, severity of the offense, and public interest. This discretionary approach allows RECA to determine the most appropriate disciplinary action rather than imposing automatic penalties, ensuring proportionate responses that protect the public while considering individual circumstances.
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A buyer signs an agreement to buy a resale house directly from its owner in Alberta. What statutory cooling-off period allows the buyer to cancel the agreement?
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