Declarants will be
required to provide purchasers of
pre-construction residential condominium units with the new Condo
Guide, developed by the Condominium Authority of Ontario
and the Ministry of Government and Consumer Services.
The Condo Guide becomes part of the disclosure statement
package. The Purchasers
10-day rescission period
begins only after the developer has provided both the disclosure
statement AND the Condo Guide.
The requirement
applies to all new sales of
pre-construction condominium units on or after January 1, 2021,
regardless of whether the project launched prior to that date.
Effective February 1, 2021
New Home Construction Licensing Act, 2017
( NHCLA )
The NHCLA will be proclaimed into force and will establish a new