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Questioning warranty on home bought from receiver

Thursday, March 16, 2017 @ 8:00 PM | By David Preger

When a residential project reaches a relatively advanced stage of construction and then becomes insolvent, the project’s secured lenders face the question of whether it should be sold in its existing state, or whether to finish the build-out and sell the units.

Tarion, Ontario’s regulator of the new home building industry and administrator of the Ontario New Home Warranties Plan Act (the act), will be a factor in the calculus. Its primary purpose is to protect consumers of new homes, including new condos, by ensuring that...