A deed operating as a release; intended to pass any title, interest, or claim which the grantor may have in the property, but not containing any warranty of a valid interest or title in the grantor.

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.

Process determining an individual's financial ability to meet the terms of a loan. When selling real estate, the sales broker must qualify the buyer to make certain he/she has the financial ability to purchase the property.

Ratio used, by a lender, to determine how much a potential buyer can afford to borrow.

Calculations that are used in determining whether a borrower can qualify for a mortgage. There are two ratios. The "" or "front" ratio is a calculation of the borrower’s monthly housing costs (principle, taxes, insurance, mortgage insurance, homeowner’s association fees) as a percentage of monthly income. The "back" or "bottom" ratio includes housing costs as will as all other monthly debt.

Program that is intended, by its actions, to guarantee a standard level of quality.

System of control meant to guarantee, by periodic inspections, that a certain amount of quality is being maintained during the production of the product in question. Materials, procedures, tools, etc., as well as the product itself are inspected.

Type and value of real estate improvements made, in addition to the use to which the land is put which is controlled by zoning and suitability.

Containing 160 acres, this is one-fourth the size of a Section of land. See also: Section.

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.

A suit in court to ascertain the legal rights of an owner to a certain parcel of real property.

Lawsuit filed to ascertain the legal rights of an owner to a parcel of property, remove a defect or to remove a cloud on the title.

A deed operating as a release; intended to pass any title, interest, or claim which the grantor may have in the property, but not containing any warranty of a valid interest or title in the grantor.

A deed that transfers without warranty whatever interest or title a grantor may have at the time the conveyance is made.

A deed that conveys simply the grantor's rights or interest in real estate; generally considered inadequate except when interests are being passed from one spouse to the other.

A deed that transfers without warranty whatever interest or title a grantor may have at the time the conveyance is made.

Highest bid to buy and the lowest offer to sell a parcel of real estate in a particular market at a specified time. Sometimes also refers to a proposal to perform certain work for a specified price.