Ontario Announces Legislation to Eliminate Fraudulent Use of NOSIs

The Ontario government is introducing legislation to eliminate the ability for people to place Notices of Security Interest (NOSIs) for consumer goods on the land registry system. NOSIs have been fraudulently used to scam homeowners, and the new legislation aims to protect residents from this type of deception. The proposed bill also includes a mandatory 10-day cooling-off period for the purchase of new freehold homes, public disclosure when builders cancel purchase agreements, and an expansion of the Condominium Authority Tribunal’s jurisdiction over disputes.

Scroll to Top