REAL ESTATE GLOSSARY

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Qualified Buyer:A buyer who has demonstrated the financial ability to afford the asking price of a home. Pre-qualifying with a lender can expedite the home buying transaction.

Qualify:To meet a mortgage lender's approval requirements.

Qualifying Ratios:Comparisons of a borrower's debts and gross monthly income.

Quiet Enjoyment:The right of a property owner or tenant to enjoy his or her property without interference.  Disruption of quiet enjoyment may constitute a nuisance. Leases and rental agreements often contain a "covenant of quiet enjoyment," expressly obligating the landlord to see that tenants have the opportunity to live undisturbed.

Quitclaim Deed: A deed that transfers whatever ownership interest the transferor has in a particular property.  The deed does not guarantee anything about what is being transferred, including an actual ownership interest.  For example, a divorcing husband may quitclaim his interest in certain real estate to his ex-wife, officially giving up any legal interest in the property.  A quit claim deed may also be used to clear up a cloud on the title to the property in cases where there is a question of a possible ownership claim.

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