Residential Real Estate RECA Terms| Correct 100%(rated A+)
General Power of Attorney - 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 - ANSWER -Has specific of limited powers in regards to the donor -Also referred to as a Limited Power of Attorney Immediate Power of Attorney - ANSWER -Makes financial and legal decisions on behalf of the donor as soon as the Power of Attorney is signed, dated, and witnessed. -This type of POA terminates upon the donor's loss of mental capacity, or death. Enduring Power of Attorney - 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 Sp
Información del documento
- Subido en
- 29 de octubre de 2023
- Número de páginas
- 3
- Escrito en
- 2023/2024
- Tipo
- Examen
- Contiene
- Preguntas y respuestas
