New Home Warranty Ontario PPS Law
A new home warranty protects new homeowners against defects arising in their newly constructed homes, before after possession. These defects could either be major structural defects (in the foundation, roof and home framing issues), in materials and labour including plumbing, electrical and HVAC system issues or home exterior issues (doors, windows and sidings). In Ontario, new home owners of freehold, contract, condo conversions under 7 years old are protected.
Ontario New Home Warranties Plan Act, 1990 states that new homes built by a HCRA licensed builder/vendor is eligible if it meets the criteria ‘home’, ‘vendor’, ‘builder’ and ‘owner’ as defined. Coverage begins as soon as an agreement of purchase and sale (APS) is signed and remains in effect for up to seven (7) years subjected to certain limits and obligations on home buyer, owner and the vendor/builder.
The vast coverage provided is divided into coverage before taking possession (financial coverage), coverage offering protection for one (1) year, two (2) years and seven (7) years after taking possession. In some cases, Tarion may cover incidental costs associated with authorized repairs or replacement to one or more warranted items in their new home or condominium.
How can PPS LAW PROFESSIONAL CORPORATION help you?
If you require further assistance in the above matter, please contact us. We are Immigrant-founded, multilingual and accommodating to cater the needs of all walks of life including the working-class community. As experienced professionals, we have been successfully assisting clients in this matter to their satisfaction. Contact us today.