Sep, 2006 - TARION Delayed Closings Report: Part 1 Appendices

September 16, 2007

Report of the Special Committee on Delayed Closings.

In March 2006, at the request of the Ontario Minister of Government Services, Tarion Warranty Corporation established an independent Special Committee on Delayed Closings to conduct a comprehensive review of the delayed closing and delayed occupancy warranties under the Ontario New Home Warranties Plan Act, and to propose reforms in order to address recognized problems with the existing warranties.

The Special Committee has concluded that, while basic elements of the delayed closing and delayed occupancy warranties should be retained, substantial reforms are needed. The Special Committee's recommendations for reform are set out in this report. The recommendations collectively amount to a revised delayed closing and delayed occupancy warranty scheme that is being proposed to replace the current system.

Click here for the full report.