The goal of the legislation is to prevent scams in which Notice of Security Interests are applied without a homeowner’s knowledge when they purchase or rent HVAC appliances such as furnaces or air conditioners. It will also remove all existing NOSIs from the Land Registry.In the fall, the province launched consultations on ways to reduce harmful and inappropriate uses of NOSIs against unsuspecting consumers.
Following my ministry’s extensive consultations with the public and stakeholders, I intend to table legislation this Spring that will place a definitive ban on all Notices Of Security Interest . In the bill, tabled Tuesday, the NDP would ban NOSIs from being placed on HVAC appliances and give homeowners the ability to apply for a lien to be removed once they notice it.
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