The warranty program administered by Tarion (formerly the Tarion Warranty Corporation) that protects buyers of newly constructed homes and condominiums in Ontario under the Ontario New Home Warranties Plan Act. All new home builders in Ontario must be registered with Tarion. The warranty provides coverage for: one year (defects in workmanship and materials), two years (electrical, plumbing, heating systems, and water penetration), and seven years (major structural defects). Buyers of pre-construction homes benefit from significant statutory protections not available in resale transactions.
Synonyms:
new home warranty|Tarion new home warranty