ARTICLE · 17 OCTOBER 2024

New Legislative Protections For Homeowners

Pallett Valo LLP

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The new Homeowner Protection Act (Bill 200) (the "HPA") received Royal Assent on June 6, 2024, and will amend s.53 of the New Home Construction Licensing Act, 2017, upon proclamation.

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Ashley Landesman

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The new Homeowner Protection Act (Bill 200) (the "HPA") received Royal Assent on June 6, 2024, and will amend s.53 of the New Home Construction Licensing Act, 2017, upon proclamation.

The HPA aims to protect homeowners and buyers of new freehold homes.

Upon proclamation, there will be a mandatory 10-day cooling off period wherein buyers of new-build freehold homes will be able to rescind a purchase agreement as long as they provide written notice of recission to the seller 10 days following the latest of:

the date the buyer receives all of the prescribed information relating to the purchase;
the date that the prescribed requirements in respect of the information relating to the purchase is satisfied; and

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