Q

qualified intermediary
Corporation or entity who facilitates a 1031 tax deferred exchange (also known as an "accommodator"). To be a qualified intermediary, the intermediary must not be a related party.

qualifying ratios
Calculations that are used in determining whether a borrower can qualify for a mortgage. They consist of two separate lculations: a housing expense as a percent of income ratio and total debt obligations as a percent of income ratio. The appraisal method of estimating building costs by calculating the cost of all of the physical components in the improvements, adding the cost to assemble them and then including the indirect costs associated with such construction.

quasi contract
A contract implied by law, as a matter of equity, when no actual contract exists.

quiet enjoyment
An implied warranty that the landlord will not interfere with the tenant's reasonable use and enjoyment of a leased property.

quiet title
A court action to remove a cloud on the title.

quitclaim deed
A conveyance by which the grantor transfers whatever interest he or she has in the real estate, without warranties or obligations.