Residential Real Estate RECA Terms
Enduring Power of Attorney - CORRECT ANSWER--Makes financial and legal
decisions on behalf of the donor upon the following:
1- Immediately upon it being dated, signed, and witnessed, and continues if the donor
becomes incapable of his/her financial and legal affairs
2- When the donor becomes mentally incapacitated
3- When some other event specified by the donor occurs, sometimes referred to as a
Springing POA.
*In order for the POA to be enduring, it must state whether it is to take effect
immediately and continue upon the mental incapacity or some other event stated by the
donor. If it does not include such a statement, it is NOT an Enduring POA and
terminates upon the donor becoming mentally incapacitated.
Development Permits - CORRECT ANSWER--Authorizes the location, size, and use of
a building and are issued by municipalities based on the proposed development
conforming to the municipal land use bylaws for that area
-Permit must be obtained by builder before any residential development of any land may
occur
Building Permits - CORRECT ANSWER--Required for the construction of new buildings
Occupancy Permits - CORRECT ANSWER--Part of the new residential construction
process
-If the inspector finds that the building meets the building and safety code requirements,
the residence is approved for occupation.
General Power of Attorney - CORRECT ANSWER--No limits on powers to make
decisions about donors financial and legal affairs
-The one exception is decisions about the donors personal affairs such as consenting to
health care or deciding where the donor should reside
Special Power of Attorney - CORRECT ANSWER--Has specific of limited powers in
regards to the donor
-Also referred to as a Limited Power of Attorney
Enduring Power of Attorney - CORRECT ANSWER--Makes financial and legal
decisions on behalf of the donor upon the following:
1- Immediately upon it being dated, signed, and witnessed, and continues if the donor
becomes incapable of his/her financial and legal affairs
2- When the donor becomes mentally incapacitated
3- When some other event specified by the donor occurs, sometimes referred to as a
Springing POA.
*In order for the POA to be enduring, it must state whether it is to take effect
immediately and continue upon the mental incapacity or some other event stated by the
donor. If it does not include such a statement, it is NOT an Enduring POA and
terminates upon the donor becoming mentally incapacitated.
Development Permits - CORRECT ANSWER--Authorizes the location, size, and use of
a building and are issued by municipalities based on the proposed development
conforming to the municipal land use bylaws for that area
-Permit must be obtained by builder before any residential development of any land may
occur
Building Permits - CORRECT ANSWER--Required for the construction of new buildings
Occupancy Permits - CORRECT ANSWER--Part of the new residential construction
process
-If the inspector finds that the building meets the building and safety code requirements,
the residence is approved for occupation.
General Power of Attorney - CORRECT ANSWER--No limits on powers to make
decisions about donors financial and legal affairs
-The one exception is decisions about the donors personal affairs such as consenting to
health care or deciding where the donor should reside
Special Power of Attorney - CORRECT ANSWER--Has specific of limited powers in
regards to the donor
-Also referred to as a Limited Power of Attorney
