Your home’s statutory warranty begins before you move in, providing both deposit protection and compensation for Delayed Closing. After you move in, there are three specific statutory warranties: the one year warranty, the two year warranty and the seven year warranty covering major defects.
You are entitled to warranty coverage up to a maximum of $300,000 for most types of claims covered by the one, two and seven year warranties. There is a maximum of $15,000 for warranted damage caused by environmentally harmful substances or hazards, and a maximum of $25,000 for coverage of septic systems.
If you have received a payment from another party or other benefit in respect of warranted items, any payment due from Tarion will be reduced by the amount of such payment or benefit.