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:
Both types of Warranty Deeds (Special and General) guarantee the buyer: 1  That the seller owns the title. 2  That the seller is legally allowed to sell the property. 3  That the property has not already been sold. 4  That the property is free of debt or other claims (aside any mentioned in the deed)