What the decision says
Aziz failed to recommend that his buyer client include a clause making the agreement of purchase and sale conditional on the seller providing a status certificate.
He also failed to seek a status certificate for the buyer's lawyer to review before the client made an unconditional offer.
The findings were under section 4, best interests, and section 21(1), the duty to take reasonable steps to determine material facts and disclose them at the earliest practicable opportunity.
- Registrant
- Khurram Aziz
- Regulator
- Real Estate Council of Ontario (RECO)
- Decision released
- 12 January 2026
- Legislation
- REBBA 2002
- Findings
- Code of Ethics ss. 4 and 21(1)
- Fine
- $9,000
- Also ordered
- Fine payable by 13 July 2026, and completion of RECO's Introduction to TRESA course.
- Type of finding
- Regulatory Professional conduct. Not a criminal or civil finding.
The penalty
The order was a fine of $9,000. Fine payable by 13 July 2026, and completion of RECO's Introduction to TRESA course.
Why this record matters
A status certificate is how a condominium buyer learns about reserve funds, planned special assessments, arrears and lawsuits. Going in unconditionally without one means buying whatever the corporation's finances turn out to be. In a competitive market, dropping conditions is exactly the advice a buyer is most likely to receive and least equipped to weigh.
Related reading: our guide on this, or the full index of records.
This is a professional-conduct decision by a regulator, not a criminal or civil finding, and it concerns the specific events described in the document. It says nothing about conduct before or after them. Parties the regulator anonymised stay anonymous here. If you are Khurram Aziz, or represent them, we will publish your response in full and unedited: see corrections and right of reply.
Source. Discipline decision of the Real Estate Council of Ontario, released 12 January 2026. Retrieved from the Internet Archive's capture of RECO's published decisions list on 6 September 2026 and republished here unaltered. RECO's own copy is at registrantsearch.reco.on.ca.