Monday, May 29, 2023, 8:44 AM
Site: America's Real Estate Academy, Inc.
Course: America's Real Estate Academy, Inc. (AREA)
Glossary: Real Estate Glossary
quantity survey method
is the most detailed of the cost estimating methods and from an academic perspective, it is therefore the most accurate. The quantity survey method is a detailed and itemized list of each component of the structure. Every piece of wood framing, every pound of nails, every door hinge, and every board of sheetrock is itemized.
is a deed covenant that expresses the grantor’s promise that the grantee will be able to possess the property free of interference from the grantor or any other third parties. The promise means that no one will claim a superior right or title to the property.
court action or process to remove any clouds or defects on title. It is a chance for anyone with claims on a property to bring it forward before the court declares or settles the legal owner.
quit claim deed
is a deed which provides no warranties. A quit claim deed is used to release any interest, if any, the grantor may have in the property and not have to make any warranties in doing so.