Ontario Strengthening Protections for Homeowners and Homebuyers

The Homeowner Protection Act, 2024 would ban the registration of Notices of Security Interest (NOSIs) for consumer goods through the Land Registry System and deem NOSIs for consumer goods currently registered on title to be expired.

It would also provide additional protections for new homebuyers by establishing a 10-day cooling off period for people purchasing new freehold homes.

The province intends to consult in the coming months on changes to support the implementation of the cooling-off period for purchases of new freehold homes, improve access to information and transparency for buyers of new freehold homes, and better support condo communities.

News Releases;

En: Ontario Strengthening Protections

Fr: Renforcement des protections en Ontario