ONTARIO PASSES HOMEOWNER PROTECTION ACT, 2024
The Ontario government’s Homeowner Protection Act passed third reading today. Royal Assent is anticipated to happen as quickly as June 7, 2024. The bill amends several pieces of existing key housing legislation and is meant to significantly strengthen protections for homeowners and buyers of new freehold homes. The Homeowner Protection Act, 2024, aims to enhance consumer rights by banning the registration of Notices of Security Interest (NOSIs) for consumer goods on the Land Registry and deeming existing NOSIs for consumer goods to be expired. Additionally, the Act introduces a 10-day cooling-off period for buyers of new freehold homes, offering them greater security and flexibility.
Key Legislative Amendments:
1. Personal Property Security Act
Key amendments to the Personal Property Security Act involve:
NOSIs for Consumer Goods: Registration of NOSIs for consumer goods is now prohibited in land registry offices unless specified by the Minister. Existing NOSIs are deemed expired immediately upon the bill's Royal Assent.
Legal Protections for the Crown: New provisions limit legal actions against the Crown related to these amendments, ensuring smooth implementation.
2. New Home Construction Licensing Act, 2017
The New Home Construction Licensing Act, 2017, has been updated with several important amendments:
Definitions and Clarifications: New definitions have been added, along with amendments to ensure consistency and clarity in subsections 53 (1) and (2).
Purchase Agreements and Construction Contracts: The Act now includes updated requirements, such as the repeal of outdated subsections and the introduction of section 53.1, enhancing the regulation-making authorities in subsection 83 (1).
Vendor Obligations: Vendors must deliver specific information to purchasers under the new section 53.2. This section also outlines when a purchase agreement is binding and the conditions for rescinding it.
Public Access to Documents: New regulations empower the Minister to require the regulatory authority to make certain documents publicly available.
3. Ontario Heritage Act
Amendments to the Ontario Heritage Act focus on managing undesignated properties in municipal registers:
Extended Deadlines: Municipalities now have until January 1, 2027, to designate properties or remove them from registers.
New Guidelines: Three new subsections outline conditions for re-including properties in the register, ensuring a structured approach to heritage property management.
4. Ontario New Home Warranties Plan Act
Changes to the Ontario New Home Warranties Plan Act include:
Public Document Access: The Corporation is mandated to make specific documents available to the public, enhancing transparency.
Technical Updates: Various technical amendments have been made to streamline the act's regulatory framework.
5. Planning Act
The Planning Act now includes provisions that:
Transit-Oriented Community Land: New subsection 47 (29) ensures that limitations on remedies do not apply to land designated under the Transit-Oriented Communities Act, 2020. This promotes the development of transit-oriented communities by removing certain legal barriers.
