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Tarion statement of critical dates freehold form

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The document outlines the terms and conditions related to the purchase of a freehold property, including critical dates for closing, delayed closing warranties, and compensation for delays. It emphasizes the importance of setting tentative and firm closing dates, procedures for notifying changes, and the rights of both vendors and purchasers in case of delays or termination of the agreement. Additionally, it provides guidance on early termination conditions and adjustments to the purchase price.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is property occupancy date?

Your occupancy date is the day youll be able to move into your new home. It may not align with closing day, despite the transfer of ownership that is taking place. Some counties require the title deed to be recorded in court before the new homeowner can move in.

What does firm occupancy date mean?

If your Final Tentative Occupancy Date is extended, or at 90 days prior to your Final Tentative Occupancy Date, your occupancy date will become a Firm Occupancy Date. This date will only move in the case of an unforeseen emergency (e.g., trade strike or material delay).

What is the final tentative occupancy date in Ontario?

Final Tentative Occupancy Date Occupancy dates progress from tentative, to final tentative and then to firm. Your Final Tentative Occupancy Date is established once the roof is completed for your community.

What is the firm occupancy date for tarion?

The Firm Occupancy Date The date that you and your builder agreed your inium unit will be ready for you to move in. If this date is not met, your builder must set a Delayed Occupancy Date and you are entitled to delayed occupancy compensation.

What is the meaning of occupancy date?

The occupancy date is the date at which you have access to the property you are purchasing. On occasion, the occupancy date is later than the signing date. This means that the vendor will continue to occupy the property for a few more days after you have officially become owner.

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What are critical dates?

What Are Critical Dates? Critical dates are specific milestones within a lease agreement that can affect the financial and operational aspects of the lease.

What are the critical dates for tarion?

Critical Dates means the First Tentative Occupancy Date, any subsequent Tentative Occupancy Date, the Final Tentative Occupancy Date, the Firm Occupancy Date, the Delayed Occupancy Date, the Outside Occupancy Date and the last day of the Purchasers Termination Period.

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