The Internet Real Estate Glossary

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Qualifying - The process a lender undertakes prior to agreeing to make a loan, which consists of evaluating a buyer's income and credit and the property's physical condition, and comparing the figures with the lender's guidelines. If the guidelines are met or exceeded, then the lender will approve a mortgage loan.

Qualifying Ratio - A ratio calculated by a lender to determine how much a potential buyer can borrow.

Quid pro quo - Lat. Something for something; that which a party received in return for something done, given or promised.

Quiet Enjoyment - right of an owner or any other person legally entitled to possession to the use of the property without interference.

Quiet title - A proceeding to establish the plaintiff’s title to land by bringing into court an adverse claimant and compelling claimant to either establish his or her claim or be permanently stopped from asserting it.

Quit Claim deed - A deed of conveyance operating as a release, intended to pass any title, interest or claim the grantor may have in the property. A quitclaim deed often is given to clear title when the seller’s interest in a property is questionable. By accepting such a deed, the buyer assumes all risks. In such a deed, the grantor gives no warranty to the grantee that its ownership exists or title is valid, but simply transfers to the buyer whatever interest the seller has.

This real estate glossary is courtesy of the Internet Real Estate Center - Join the Online Real Estate Revolution.