Question: Please explain in layman's terms... "Irrevocable durable power of attorney coupled with an interest"?

A relative had explained that they're wanting to put the house in my name so that in case of their death the equity will go to me. But I'm super confused about what this form/phrase actually means, and confused why I'm only going to be 1% owner, and confused about why power of attorney is even needed. Can someone please explain in layman's terms?

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