A durable power of attorney (POA) enables your elderly parent (called the principal in the power of attorney document) to appoint an agent, such as a trusted relative or friend, to handle specific health, legal and financial responsibilities. There are two types of power of attorney:
Deeds are also categorized based on the type of title warranties provided by the grantor. The general warranty deed, for example, provides the highest level of protection to the buyer. The quitclaim deed, on the other hand, typically provides the least buyer protection. The different types of deeds include:
A warranty deed is a deed in which the grantor warrants that they have a good, clear and marketable title. You can think of this type of deed just as you would with any other product in which you get a warranty. The maker or seller of the product provides you with a warranty that their product will work.