1. Learn about NOSIs

A notice of security interest (NOSI) is a legal document that a company puts on the title of someone's home. The NOSI lets people know there's a security fixture in the home that's being rented or financed. A security fixture is usually equipment like HVAC units, water heaters, and furnaces.

When you finance an item, it means that a company lends you money so you can buy it. You usually agree to pay off the loan in monthly payments.

Starting June 1, 2024 in Ontario, companies are not allowed to put a NOSI on the title of your home when you rent or finance an item from them. 

If a company has already put a NOSI on your home, that NOSI is now expired. You do not need to pay anything to the company to remove the NOSI. You may need to remove it if you want to sell your home or refinance your mortgage. If you need to remove a NOSI from your home, get help from a real estate lawyer.