OntarioBill 71First Reading
Bill 71: Life Leases Act, 2025
Sponsor: Racinsky, JosephIntroduced November 19, 2025Last checked August 28, 2026
Read the official text on ola.orgOfficial version — Legislative Assembly of Ontario
What this bill does
This bill creates a new legislative framework in Ontario for life leases — long-term residential occupancy agreements that entitle a person to live in a unit for life or a lengthy fixed term. It establishes rules around financial disclosure, reserve funds, meetings of life lease holders, and prohibits false or misleading information by life lease sponsors, with significant fines for non-compliance.
Plain-language summary by Legisail.
Business impact
Compliance
This primarily affects organizations in Ontario that develop, manage, or sponsor life lease communities — typically non-profit housing organizations, faith-based groups, or senior-living operators that offer life lease arrangements as an alternative to condominiums or rental housing. These sponsors will face new obligations around financial transparency (audited financial statements, record-keeping), establishing and maintaining reserve funds, holding regular meetings with life lease holders, and ensuring lease terms comply with the Act. The bill also impacts smaller operators who may have only a single life lease building, as the requirements apply broadly regardless of size. Day-to-day activities affected include financial management and reporting, resident communications, board governance, and how new life lease agreements are drafted and marketed.
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Where this bill is
First ReadingNovember 19, 2025
Next: Second Reading debate
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