Glossary of Real Estate Terms (Oregon) – Q
Qualifying Ratios – See “Mortgage Qualifying Ratios.”
Querin, Phil – Oregon real estate lawyer, speaker, and writer. See www.Q-Law.com for articles, services, blog and more.
Quiet Title – The name of the legal action that can be brought by one seeking to obtain a judicial (i.e. court) resolution of a problem with the title to land. Occasionally, a quiet title suit is joined with other overlapping forms of relief, such as an adverse possession claim. It can also be used by an owner to remove a recorded encumbrance (or “cloud”) on the property that should not be there.
Quitclaim Deed – One of the four major deeds used in Oregon. A quitclaim deed contains no warranties or representations of ownership. It conveys only the interest the grantor has in the property at the moment of the conveyance. By Oregon statute, any interest that can be conveyed by a bargain and sale deed, may be conveyed by a quitclaim deed. However, to real estate experts, there are only limited circumstances in which the use of a quitclaim deed is appropriate. (See, ORS 93.865)