Latent Defect for Home Buyers and Sellers
Latent defect is a hidden defect in the structure, materials or systems of the building that could not have been discovered by a property inspector on or before the closing date and was unkowne to the parties, which renders the property unfit for it intended purposes.
Features and Benefits:
Disclaimer - *Information contained here is only an outline of coverages available and is not intended to be a legally binding agreement. For exact terms, definitions, limitations, exclusions and extensions, please refer to terms and conditions contained in the final policy. The real estate broker is not an authorized insurance agent/broker and is not permitted to answer specific questions, provide advice or interpret the coverage and applicability of the program and/or the insurance policy. For further information, please contact the program broker. This program is available to residents of Ontario only. Latent defect are defined within the policy.