Real Estate Glossary

Letter Q

QuadSee: Quadrant.

QuadrangleIn the Government Survey method of describing real property, a square area of land 24 miles square (24 miles on each side or 576 square miles), containing 16 Townships (six miles square) or 576 Sections (one mile square).

Quadrant(1) A quarter section of a circle. (2) One of the quarters created by two intersecting roads or streets.

Qualified FeeWhen a grantor puts a condition or requirement in the deed and limits the title to real property. Also called: Conditional Fee, Determinable, Fee Simple Defeasible, or Defeasible Fee.

Qualified Fee EstateAn ownership interest in real property that is not absolute. See: Defeasible Title; Fee Tail.

Qualified IntermediaryThe party that facilitates the exchange of property to meet the requirements of IRS Code Section 1031. To be "qualified" the party must not be related to the taxpayer and have no interest in the property. Section 1031 sets out the full requirements. The party is also commonly called an Accommodator or Facilitator.

QualifyingThe act of determining a prospect's motivation, then matching his or her needs with the available inventory.

Quantity Survey MethodAlso called "price take-off" method. A process of arriving at an estimate of new construction costs by a detailed estimate of quantities of necessary building materials plus labor costs.

QuarterSee: Quarter Section.

Quarter RoundA molding which, in cross-section, resembles a quarter circle.

Quarter SectionOne quarter of a section. A quarter section (commonly called a quarter) contains 160 acres.

QuashTo abate, annul, overthrow, vacate, void.

QuasiSimilar to but intrinsically different.

Quasi ContractA contract created by operation of law where no actual contract exists. The purpose is to avoid unfairness and create a remedy for the injured party.

QuayA wharf used for loading or unloading ships.

Question Of FactQuestion as to what actually happened. Determined by physical evidence and decided by a jury in a jury trial.

Question Of LawGiven the facts, what laws, if any, are applicable; decided by a judge, even in a jury trial.

Quick AssetsSee: Liquid Assets.

Quiet EnjoymentSee: Covenant of Quiet Enjoyment.

Quiet TitleSee: Action To Quiet Title.

Quiet Title ActionA lawsuit to determine who has title to a piece of property or to remove a cloud from the title.

QuietusFinal disposition of a claim or debt.

QuoinSee: Coign, Coigne.