- Residential property of 5 apartments or less in which one of the apartment is occupied by the owner or residential condominium (excluding the common areas).
- 60 days delay from the notary transaction date or the acquisition date as it appears on the notary deed, to take this insurance. However, the period of insurance will begin at the acquisition or occupation date mentioned on the deed of sale and will end 12 months later at the same date.
- Sale without restriction regarding the vendor's statutory warranty. Any transaction bearing the mention of "sale without vendor's statutory warranty" is not eligible to this insurance.
- Latent defects must be prior to the acquisition of the property and could not be noticed by the buyer and/or the building inspector. All defects known by the buyer as well as defects for which the building inspector has made an observation in his report or defects for which the inspector suspects the presence and recommends additional examination are excluded.
The following documents will be required in case of a claim and are part of the eligibility conditions :
- Copy of the initial Purchase Offer with all subsequent documents (conditions, addendum and final offer accepted by the vendor).
- Copy of the Notary deed.
- Copy of a pre-acquisition inspection report made by a professional inspector, member of the Quebec Building Inspectors Association (see their list of members on : www.aibq.qc.ca ).
- Copy of your residential insurance policy covering the property.
- Copy of the vendor's declaration form completed and signed by the vendor (see your real estate broker). The form included in the A.I.B.Q. inspection report is accepted.
N.B. : You must comply with all of the above conditions before subscribing to our insurance protection.
This product is available for properties in Quebec only.
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