In British Columbia, a Power of Attorney is effective when it is prepared in accordance with Power of Attorney Act of BC. While there are pre-printed Power of Attorney forms available from websites or legal stationers, these forms are not tailor made to be suitable for all situations. When it comes to dealing with real property using Power of Attorney, the Land Title Office has requirements before accepting documents signed by way of a Power of Attorney. If the Power of Attorney does not meet the requirements of the Land Title Office, it will not be accepted for registration and therefore not effective for land purposes.
 
Some of the common mistakes of Powers of Attorney are:

1. The Land Title Office requires the name in the Power of Attorney and on the property title to be exactly the same.  Best practice is best to obtain a title search for the property and check the exact name on title before preparing the Power of Attorney. If the owner has different versions of their name for different titles, more than one version of Power of Attorney may be needed.
2. If a Power of Attorney contains alternate, or "also known as", names for the attorney, the Land Title Office will decline to register the Power of Attorney.  A Power of Attorney with an "a.k.a." name for the attorney will not be accepted by the Land Title Office for registration purposes.
3. According to the section 26 of the Property Law Act of BC, the attorney cannot execute a transfer to him or herself without the Power of Attorney authorizing it. The Power of Attorney must specify the Attorney has such power to do so.  
4. If the Power of Attorney is applicable only after the occurrence of some specified events, any documents executed by Land Title Office must be accompanied as evidence that the Power of Attorney has occurred in the specified event.

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It is important for the Power of Attorney to be prepared correctly in the first place and that mistakes stated above will result in Power of Attorney being rejected for registration at the Land Title Office.

Joint Tenancy vs. Tenants in Common
Property owned by more than one person must be owned in one of two ways: Joint Tenancy or Tenancy in common.  When a property is owned in a joint tenancy arrangement, the interest of a deceased owner automatically gets transferred to the remaining surviving owner(s), meaning the surviving owner(s) has the right of survivourship.  On the other hand, if the property is in tenants in common, the interest in the property becomes owned by the estate of the deceased and is transferred to beneficiaries by the estate.

Joint Tenancy:

• On the death of one joint tenant, their interest in the land passes to the other joint tenants by the right of survivorship and the process continues until there is but one survivor, who then holds the property as sole.
• Each tenant holds common (or undivided) interest. If one owner dies, the remaining joint tenant(s) automatically inherits the property in equal proportions. This does not form part of the estate on one’s death.
• All joint tenants always own an identical and equal portion – for two tenants, 50% each and for four tenants, 25% each.
• Joint tenancy can avoid probate fees and delays. Shares are automatically passed on without probate court interference which can be a major advantage to Joint Tenancy.  
• All names of the group who are joint tenants will show up on the title of the property evenly.
• It is the most common way for a couple to own real property.
• The mortgage of a joint tenancy property requires the unanimous agreement of all joint tenants.
• A joint tenant in certain cases and geographical areas, can apply to the courts to have the land severed and provide each owner with a separate and distinct piece.
• For joint tenancy, approval for co-owner is not needed to break up a joint tenancy.
• All tenants can occupy and manage the property:
  • Can be problematic if one joint tenant refuses to pay their share of the property expenses.
  • If one pays ALL the expenses, they can ask for reimbursement for necessary costs e.g. Property Tax

Tenants in Common:

• Each tenant holds a percentage of interest in the property. If one of the owners dies, their interest in the property passes to their estate to be passed on according to their will.
• Tenants in common is usually used when tenants own the property in unequal shares, i.e. in different percentages.
• “Agreement between Tenants in Common” may be entered into which could override the rights which tenants would normally have under law.
• The tenants can hold equal or unequal shares: Every tenant owns an undivided share in the property therefore is free to possession of the whole property.
• Holder of tenancy in common desires, either to sell of mortgage their interest in the property, that can be done by them without the consent of other tenants
• Does not carry a right of survivourship: if one tenant dies, their interest does not go to the other tenants, but goes to the estate of the deceased. If there is a will, it’s distributed accordingly. However, if there is no will, there are provincial legislations and the person’s assets (including tenant’s interest of property) would be distributed to relatives according to that legislation.
• If an individual is purchasing properties for investment purposes with people that are not relatives, tenants in common would be appropriate as then their shares will not automatically go to the remaining tenants.

 
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