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Welcome to the Real Estate License Professor's Real Estate Terms Glossary

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Random Real Estate License Terms


FANNY MAE
 
The Federal National Mortgage Association (FNMA).
   
INVOLUNTARY CONVERSION
 
The loss of real property due to destruction, seizure, condemnation, foreclosure sale, or tax sale.
   
LOAN PACKAGE
 
A group of documents prepared along with a loan application to give the prospective lender complete details about the proposed loan.
   

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QUARTER ROUND
A molding whose profile resembles a quarter of a circle.
QUASI
Almost as if it were.
QUASI-CONTRACT
A contract implied by law; that is, the law will imply and consider certain relationships as if they were a contract.
QUIET ENJOYMENT
The right of an owner to the use of property without interference with his or her possession or use.
QUIET TITLE ACTION
A lawsuit designed to remove any clouds on a title to property. It forces the claimant of an adverse interest in property to prove his right to title; otherwise he will be forever barred from asserting it.
QUITCLAIM DEED
A deed to relinquish any interest in property to which the grantor may have, without warranty of title or interest.
QUITE TITLE
A court action brought to establish title and to remove a cloud from the title.

 

 

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