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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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What is deposit protection with Tarion?

Deposit protection covers you if youve paid a deposit toward the purchase price of a new home but your purchase isnt completed because your builder goes bankrupt or fundamentally bdocHubes your purchase agreement.

Are security deposits prepaid expenses?

Prepaid expenses are also considered assets and may include prepaid insurance, rent security deposits and prepaid inventory -- a deposit made on inventory not yet received.

How much deposit protection does Tarion offer?

If your deposit is not returned, Tarion provides deposit protection of up to $20,000. Important Tip: Before treating your purchase agreement as terminated, and to ensure that your deposit claim will be covered by Tarion, you should consult a lawyer.

Is a refundable security deposit an asset?

Since the security deposit is refundable (and the tenant intends to comply with the specified conditions) the tenant that paid the security deposit will report the amount as an asset.

What are warranty deposits?

Warranty Deposit means the reduced value of the Security Deposit or a separate irrevocable, automatically renewing Letter of Credit to be deposited with the City for the duration of the Warranty Period, as required in Schedule F and Schedule H, attached to and forming part of this Bylaw, as a guarantee for the

Is a guarantee the same as a deposit?

A Bond Guarantee is a non-cash deposit that can be provided to a landlord before a tenancy starts. It replaces the cash deposit a landlord would normally expect a tenant to pay.

Where can I find my Tarion enrollment number?

Where do I find my Tarion enrollment number? You will require Your Tarion Enrollment # and the Vendor/Builder #, both of these numbers are available on your PDI Form, which your PDI Representative will educate you on. Each warranty period always reverts to the date of possession.

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