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Real Estate Terms starting with (Q)

The Following are real estate terms and topics: Starting With the Letter (Q)

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Are you confused and overwhelmed by the extensive terms and words used in real estate? Every person working in real estate or planning to buy or sell real estate can benefit from learning some of the terms….

Real Estate Term Q

Real Estate Term Q

Qualify
Ability to meet a lender’s mortgage approval requirements.

Qualifying ratios
The ratio of your fixed monthly expenses to your gross monthly income, used to determine how much you could afford to borrow. The fixed monthly expenses would include PITI along with other obligations such as student loans, car loans, or credit card payments.

Qualified plan

Retirement savings plan meeting federal tax law specifications for tax deferral. Among other requirements, the plan’s assets must be placed in trust for the sole benefit of the employees covered by the plan.

Quarter-Section
a land unit equal to a quarter of a section (160 acres) and measuring 1/2 mile on a side

Quiet Enjoyment
A clause in most leases stating that the tenant has a right of peaceful and disturbance-free possession of the premises, and that ownership will protect the tenant against the claims of others.

Quitclaim deed
A deed that transfers whatever interest the maker of the deed may have in the particular parcel of land. A quitclaim deed is often given to clear the title when the grantor’s interest in a property is questionable. By accepting such a deed, the buyer assumes all the risks.

Quiet Title

To free the title to a piece of land from the claims of other persons by means of a court action called a quiet title action.

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