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At common law, a person called a donor can appoint someone as his or her attorney to manage their financial affairs. Under Alberta’s Powers of Attorney Act , an individual may sign an enduring power of attorney that allows a donor to choose a person or person’s to look after the donor’s legal and financial affairs both before and after the donor becomes incapable of doing so, depending on how the document is written.
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You may be considering entering into an ownership arrangement with your family member or a close friend. Whether it’s an investment property or your first home, it’s important to clearly understand what the obligations and interests under the ownership structure will be.