About Ashcroft Homes – Eastboro Inc.
Updated January 5, 2026
Tarion continues to closely monitor the situation involving Ashcroft Homes – Eastboro Inc. We understand that purchasers of pre-construction homes are concerned about the status of the project and what it means for their purchase agreements.
We encourage you to speak with your real estate lawyer if you have questions about your agreement of purchase and sale and the receivership process. Information about the receivership is available on the Receiver’s website.
Tarion will update this notice from time to time.
Information for Purchasers
Ashcroft Homes – Eastboro Inc.
Status of agreements of purchase and sale
On October 17, 2024, the Ontario Superior Court of Justice (the “Court”) appointed MNP Ltd. as the receiver (the “Receiver”) over Ashcroft Homes – Eastboro Inc. On their own, neither the appointment of the receiver nor the commencement of receivership proceedings resulted in the termination or fundamental breach of Ashcroft Homes – Eastboro Inc. agreements of purchase and sale and a stay of proceedings is in place.
On January 23, 2025, the Court made an order, among other things, authorizing and/or directing the Receiver to terminate certain categories of Ashcroft Homes – Eastboro Inc. agreements of purchase and sale. As at the date of this notice, Tarion understands that some agreements of purchase and sale have been terminated while others have not yet been terminated. The information below provides guidance based on the status of your purchase agreement.
Purchasers who have received their deposit back in full
Based on information from the Receiver, it is Tarion’s understanding that certain purchasers have received their deposits back in full from the Ashcroft Homes – Eastboro Inc. escrow agent. As these purchasers have already been paid in full, these purchasers are not eligible for any further Deposit Protection.
Purchasers who have not received their deposit back in full
The Receiver has advised Tarion that there is no prospect of remaining Ashcroft Homes – Eastboro Inc. purchasers recovering any of their deposits by submitting claims in the receivership. These purchasers may be eligible for Deposit Protection and may contact Tarion to submit a Deposit Protection claim. When submitting a Deposit Protection claim, a purchaser should include evidence of deposit payments made (and any partial payments received back) in connection with the agreement of purchase and sale and evidence of the valid termination of the purchase agreement.
Other claims
Purchasers should consult their own legal counsel if they wish to pursue other claims in the receivership or otherwise.
Deposit Protection from Tarion
Purchasers can have confidence that if purchase agreements have been, or are ultimately, terminated as part of the court-ordered sale process or by transactions completed thereunder, and deposits are not refunded by Ashcroft Homes – Eastboro Inc. through the receivership process, then you will be able to submit a Deposit Protection claim to Tarion.
If your agreement of purchase and sale has been validly terminated and you have not received all of your deposit back, you may be eligible for deposit protection and you may submit your claim at the link below:
Making a Deposit Claim - Insolvency