{"id":918,"slug":"tarion-guarantee-fund-2024-100m-payouts","title":"Tarion Guarantee Fund — 2024 payouts >$100M (largest single year in program history); 900+ deposit claims drove the $250 capital-replenishment surcharge","kind":"reference","scope":"business","status":"current","audiences":["kevin","candid-team"],"topics":["gc-vertical","tarion-warranty"],"reference_body":"**Claim:** The **Guarantee Fund** is Tarion's reserve that pays warranty obligations when a builder is bankrupt, insolvent, has had its licence revoked, or refuses to perform. Tarion can pay the homeowner directly, arrange repairs by a Tarion-retained contractor, or pay deposit-protection claims.\n\n**2024:** the Fund paid out **more than $100 million** — Tarion describes it as **one of the largest single-year consumer-support payouts in the program's history**, driven by builder bankruptcies (Stateview, GC King Bond, others) and **over 900 verified deposit claims**.\n\n**Source:** Tarion 2024 Annual Report.\n\n**Confidence:** Verified.\n\n**Fund balance:** the 2024 Annual Report did not fully expose the year-end Fund balance in the section reviewed. For historical context, the Fund stood at **$592.3 million in 2018** (per the 2019 Auditor General audit).\n\n**Why the 2025 enrolment-fee surcharge exists:** The **$250 temporary capital-replenishment surcharge** on each home enrolment ([[tarion-enrolment-fees-2025-bulletin-15]]) is designed to recapitalize the Fund after the 2024 payout. Tarion projected raising close to $30M over three years.\n\n**Related enforcement context:** The 2024 deposit-payout crisis is the same period that drove HCRA enforcement against Stateview ([[stateview-homes-453-illegal-sales-charges-2023]]), GC King Bond ([[gc-king-bond-16m-amp-code-of-ethics-2024]]), and Albion ([[albion-construction-1m-fine-dec-2025-largest-case]]). Tarion paid deposits; HCRA pursued discipline.","rationale_body":null,"metadata":null,"links":{"outgoing":[{"slug":"tarion-deposit-protection-freehold-and-contract-homes","title":"Tarion deposit protection — freehold: $60K (≤$600K homes) or 10% to $100K (>$600K); contract homes: $40K financial-loss coverage","kind":"reference","scope":"business","link_type":"relates-to"},{"slug":"stateview-homes-453-illegal-sales-charges-2023","title":"Stateview Homes (Vaughan) — licences suspended July 2023; charges for 453 illegal home sales across 7 entities; $349.9M in registered mortgages","kind":"reference","scope":"business","link_type":"relates-to"},{"slug":"gc-king-bond-16m-amp-code-of-ethics-2024","title":"GC King Bond GP Inc. — $16M in AMPs for 76 Code of Ethics breaches (July 2024); $1.1M reimbursed; receivership June 2025","kind":"reference","scope":"business","link_type":"relates-to"}],"incoming":[{"slug":"research-brief-tarion-ontario-may-2026","title":"Research brief: Tarion Warranty Corporation — definitive reference (May 2026)","kind":"reference","scope":"business","link_type":"relates-to"},{"slug":"tarion-enrolment-fees-2025-bulletin-15","title":"Tarion enrolment fees Sept 1, 2025 (Registrar Bulletin 15) — \"$1,790 average payable by the vendor\"; 3.1% increase on $800K homes; $250 capital-replenishment surcharge","kind":"reference","scope":"business","link_type":"depends-on"},{"slug":"tarion-toronto-star-investigation-kenyon-wallace","title":"Toronto Star Tarion investigation — multi-year reporting led by Kenyon Wallace (not Robert Cribb); CBC reporting led by Laura Osman","kind":"reference","scope":"business","link_type":"relates-to"},{"slug":"rule-builder-site-disclose-tarion-warranty-on-new-home-pages","title":"RULE: Every Candid builder-client site must surface Tarion warranty coverage on every new-home product/landing page, with 1-2-7 structure named and CSS forms referenced","kind":"rule","scope":"business","link_type":"relates-to"}]},"created_at":"2026-05-24T14:19:39.522Z","updated_at":"2026-05-24T14:19:39.522Z"}