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:
After a home buyer secures a loan, the lender will typically protect the loan with either a deed of trust or a mortgage. Both documents place a lien on the house, which allows the lender to sell the property if the borrower canât meet the terms laid out. But, importantly, when a deed of trust is used, the lender does not have to go through the court system to sell the home. Get started Start Deed of Trust Answer a few questions.