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:
I also explained the âwarrantiesâ that are the inherent protections which are embedded in a General Warranty Deed and why these protections make it the preferred deed to use when purchasing real estate. This week we will examine the effects of transferring title to real estate by Special Warranty Deed.