Humber/Ontario Real Estate Course 1 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 1 Exam with our comprehensive quiz. Test your understanding with multiple choice questions and detailed explanations. Build confidence and knowledge for a successful exam experience!

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What happens to the remaining Tarion warranty if a home is sold five years after initial occupancy?

The warranty remains with the home for the balance of the term.
The warranty terminates upon sale of the home.
The warranty requires re-inspection by Tarion.
The warranty needs to be reapplied for by the new owner.
The warranty coverage doubles for the new owner.
The warranty only covers structural defects thereafter.

The correct answer is: The warranty remains with the home for the balance of the term.

In Ontario, when a home is sold five years after the initial occupancy, the remaining Tarion warranty stays with the home for the balance of the term. This means that the new owner will still benefit from the remaining warranty coverage on the home, providing protection against certain defects in workmanship and materials. This is a standard practice to ensure continuity of warranty coverage for subsequent owners and to maintain consumer protection in the real estate market.