The refunds to claim, the returns to file, the accounts to set up and the documents to keep in the twelve months after closing.
⚖️ This is general information, not legal advice. It can't account for your specific situation. Use it to get oriented, then confirm the details with a licensed Ontario lawyer.
Closing day ends the purchase, but not the paperwork. Several of the most valuable things a new owner is entitled to have deadlines measured from the closing date, and a few obligations begin quietly in the background. This checklist collects them in one place: provincial and federal refunds, tax filings, property tax and assessment, warranty forms for new homes, and the estate-planning follow-through that buying property usually triggers. Where a figure or date can change, we point to the government page rather than repeat a number that may be out of date by the time you read it.
Money you may be owed
- Ontario land transfer tax refund for first-time buyers: normally claimed by your lawyer at registration. If it was not, the refund application must be made within 18 months after the transfer.
- Toronto municipal land transfer tax rebate for first-time buyers, claimed separately through the City if you bought in Toronto.
- GST/HST new housing rebate on a new home, if the builder did not credit it at closing: apply to the CRA within the deadline in guide RC4028.
- The federal home buyers' amount, a non-refundable credit claimed on line 31270 of your income tax return for the year of purchase if you qualify.
- Moving expenses, deductible in limited cases when the move was for work or study; see the CRA's conditions.
Money you now owe or must repay
- Home Buyers' Plan repayments: RRSP withdrawals under the plan must be repaid over a schedule the CRA sets, and repayments are reported on each year's return. Check your start year on the CRA page.
- First Home Savings Account: after a qualifying withdrawal the account must be closed by the deadline the CRA sets, and any remaining balance transferred or withdrawn as taxable income.
- Ontario retail sales tax on mortgage default insurance was paid at closing; the premium itself is inside your mortgage balance and is repaid with it.
- Non-Resident Speculation Tax rebate: if you paid the tax and later become a permanent resident, an application window applies; diarise it.
Property tax and assessment
- Confirm the municipality has your name on the tax roll and set up payment (pre-authorised plans avoid missed instalments).
- The tax adjustment on your statement of adjustments was based on the seller's bills; the final bill for the year may differ. Keep the statement to reconcile.
- New homes: expect a supplementary assessment notice from MPAC and a catch-up bill for the house, sometimes many months after closing.
- Check the assessed value on your MPAC notice and the request-for-reconsideration deadline if it looks wrong.
New home: warranty forms
- Tarion 30-day form: submitted within thirty days after possession, listing defects noticed after the pre-delivery inspection.
- Tarion year-end form: submitted in the last thirty days of the first year of possession.
- Keep the PDI form, every builder notice, and photographs; they are the evidence for warranty claims.
- Condominium buyers: the common elements warranty belongs to the corporation, which files its own forms.
Title, insurance and your closing package
- Read your lawyer's reporting letter: it records how title is held, the mortgage registered and the title insurance policy number.
- Keep the transfer, the statement of adjustments, the title insurance policy, the survey if any and the HST rebate forms together; you will need them when you sell.
- Joint tenants inherit from each other automatically; tenants in common pass their share under their will. If the holding is not what you intended, it can be changed by a transfer.
- Review home insurance at renewal: replacement cost, sewer backup and any wood stove or rental suite disclosures.
Estate planning follow-through
- Make or update your will: owning real property is the most common reason people finally do this, and a mortgage makes it more important, not less.
- Sign powers of attorney for property and personal care so someone can deal with the home if you cannot.
- If you bought with a spouse, note that a matrimonial home has special protection under the Family Law Act regardless of whose name is on title.
- If you bought with a friend or relative, a co-ownership agreement sets out who pays what and what happens if one of you wants out.
For later: the principal residence
When you eventually sell, the principal residence exemption under the Income Tax Act can shelter the gain, but only if you designate the property on your return for the year of sale. Ownership years, any rental use and any second property affect the calculation, so keep records of purchase costs and improvements from year one.
How Treadstone Law can help
Most of this list takes an afternoon; the deadlines are the part that matters. If you are unsure whether a refund was claimed at closing, ask us and we will check your file.
Treadstone Law handles real estate matters on a transparent flat fee, with online intake and a real lawyer on your file, across Ontario.
- Start your file online at treadstonelaw.ca/start-file
- See flat-fee pricing at treadstonelaw.ca/pricing
- Learn more about our real estate services at treadstonelaw.ca/real-estate
- Or call us: 1-844-900-1070
This is not legal advice
This guide is general information, not legal advice. Reading it does not create a lawyer-client relationship. Ontario laws and government programs change, and how the law applies depends on your specific facts. For advice about your situation, speak with a licensed Ontario lawyer. Treadstone Law is licensed by the Law Society of Ontario — reach us at 1-844-900-1070 or start a file online.