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:
Usually, a seller will convey the title to the land by a. warranty deed. This deed contains a warranty under which the seller guarantees. good title. However, the warranty does not necessarily mean that the title is good. and marketable. It only means that the seller will be liable if the title is not. good.