Builders in Ontario are deemed to provide statutory warranty coverage as outlined in the Ontario New Home Warranties Plan Act. The coverage includes: protection for deposits; protection against financial loss for contract homes; compensation for delays in closing or occupancy; and one, two and seven year warranties for certain construction deficiencies.
Warranty coverage begins on the date of possession of a home or condominium unit, and remains in effect until the end of the warranty period, even if the home is sold before the warranty expires.
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