
The **Tarion Warranty** is a program that protects buyers of newly built homes in Ontario, ensuring they receive coverage under their builder’s warranty. Tarion’s role encompasses several types of coverage, including:
1. **Pre-possession coverage**: Financial protection before you take possession of your new home, which includes deposit protection and delayed closing coverage.
2. **Post-possession coverage**: Addresses construction defects and other issues that might arise after you move in. This warranty is divided into three time periods: one year, two years, and seven years, each covering specific items.
Role-wise, Tarion ensures builders comply with regulations and protects consumers by enforcing standards and resolving disputes about warranty coverage. If you're in the process of buying a home or are a new homeowner, understanding your rights under the Tarion Warranty can go a long way in safeguarding your investment.
Got any specific questions about the Tarion Warranty or homeownership in general? I'm here to help!