Closing a New Home or Condo-Tarion Warranty Corporation’s New Delayed Closing Rules Part II
May 28
Tarion Warranty Corporation has now approved significant reforms to the delayed closing protocol that will be easier to understand and administer, and intended to be fairer to both purchasers and builders. The new regime will include increased compensation levels, a new mandatory addendum to be attached to every agreement of purchase and sale for a new home or condominium acquired after the implementation date, and special transition rules for existing sales that have not yet closed.
This is "need to know" information for any lawyer acting for a purchaser or a vendor of a new home or condominium in Ontario must be fully cognizant of the changes. Please join us for an informative discussion regarding the rationale for the new delayed closing regime and a detailed review of the mandatory addenda and transition rules, together with a lively debate on the pros and cons of the reforms.
FMC's presenters: Jules Mikelberg
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