This glossary should not be relied upon as legal advice. It is provided for general informational purposes only. To properly advise on any given situation requires a knowledge of the facts surrounding that situation. Laws and the statutory definitions of terms will vary from state to state. Specific questions should be directed to an attorney licensed in your state.
Qualifying ratios: Lenders compute qualifying ratios to determine how much a potential buyer can borrow.
Quantum Meruit: The equitable value of the goods or services in question. The doctrine of quantum meruit allows a plaintiff to recover the reasonable value of goods or services provided to another who has derived a benefit and not paid for such benefit.
Quash: To annul, void or vacate a prior judicial order or decision.
Queen Anne style: A Victorian-era style that originated inSan Francisco.
Question of Fact: A factual issue submitted to the jury or to the judge in a bench trial for determination.
Question of Law: An issue involving the application or interpretation of the law which is within the province of the judge. Compare with question of fact.
Quid Pro Quo: That which a party gives up in return for a benefit; the mutual consideration that is exchanged between parties to a contract and makes it binding.
Quit-claim deed: A document that releases a party from any interest in a piece of real estate.
Quitclaim: A release of whatever claim or title you have in a property.