Real Estate Glossary

Real Estate Law Glossary

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There are currently 2 names in this directory beginning with the letter T.

Tarion Warranty Corporation

A private corporation set up by the provincial government to administer the Ontario New Home Warranties Plan Act. The act is designed to protect consumers buying new homes by ensuring that they get a quality home. All builders in Ontario must enroll every home in the program.

Term

The length of time that the mortgage agreement exists. At the end of the term, a new term can be negotiated or the mortgage loan is due in full.