If you enter into a contract with a builder for the construction of a new home on property that you own, some or all of the money you give your builder under that contract may be protected.
If your builder fails to substantially perform the contract, you may be entitled to compensation from Tarion for the difference between the amount you paid the builder and the value of the work and materials that were supplied, up to a maximum of $40,000.
To make a claim for financial loss protection, please contact Tarion. A contract home is not always covered under the statutory warranties. For example, if someone other than the contracted builder exercises significant control over the construction of all or part of the home, the home may not be eligible for statutory warranty coverage. Learn more about other Types of Homes Not Covered.