Real Estate Glossary

Qualified Estate - See fee simple, defeasible.

Qualifying Ratio - Calculation of a proportion of a borrower's expenses relative to his income; used to determine a real estate borrower's eligibility for a specific loan amount. Two ratios are used: debt-to-income ratio and housing-expense-to-income ratio.

Quarter Section - In the rectangular survey system, a portion of land equal to 160 acres, or one-quarter of a township.

Quiet Enjoyment - Area of law dealing with a tenant's or purchaser's right to enjoy the use and possession of a property without unreasonable interruption or intimidation by the landlord or seller.

Quiet Title Action - Legal proceeding in court to prove ownership of real property or to remove a cloud, or defect, from a property's title.

Quitclaim Deed - Legal document that operates as a release of any claim or right to real estate rather than granting any ownership. A quitclaim deed contains no warranty as to the grantor's condition of title and proves only that the grantor is releasing an interest in a property, but not whether the grantor ever actually had any interest or right in the property.