Guarantee Plan
For New Residential Buildings
How long after its construction is a model home or a model co-ownership unit protected by the Guarantee Plan for New Residential Buildings?
When you purchase a new model home and take possession within 24 months following the end of work, all of the coverage begins at the time of acceptance. Only exception: the 5-year coverage for faulty design, construction, or production of the work, or the unfavourable nature of the ground begins with the end of the work, and it will therefore be limited to the time remaining in the guarantee.
For example, if work was completed 1 year ago, there would be 4 years remaining of the original 5 years of coverage for faulty design, construction, or production of the work, or the unfavourable nature of the ground. All other coverage begins at the time of the acceptance of your home.
When you purchase a new model co-ownership condo within 24 months following the end of work on the common portions, all of the coverage begins at the time of acceptance of your private portion. Only exception: the 5-year coverage for faulty design, construction, or production of the work, or the unfavourable nature of the ground begins with the end of the work on the common portions, and it will therefore be limited to the time remaining in the guarantee.
For example, if work on the common portions has been completed for 1 year at the time you purchase your condo, there would be 4 years remaining of the original 5 years of coverage for faulty design, construction, or production of the work, or the unfavourable nature of the ground. All other coverage pertaining to the private portion begins upon your acceptance of your condo.