joint tenancy

Joint Tenancy's accessory, a Power of Attorney.

It is common for couples to purchase a home jointly with a spouse (via marriage or common-law) or even a close friend. One of the main advantages of joint tenancy is that it provides each other with a right of survivorship on death, saving approximately 1.6% on probate fees if one of the owners die, and keeping the home out of probate and away from potential wills variation actions.