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:
Most types of deeds imply some sort of warranty or guarantee about the propertyâeven if the only guarantee is that the person selling the property is the bona fide owner and has the legal authority to sell it. However, a quit claim deed Minnesota makes no warranties or guarantees at all.