accounts terminology

Quadrominium -- a four-unit condominium.

Quadroplex -- a structure containing four dwelling units with shared walls. Ownership of each unit may be fee simple or as a condominium.

Qualified opinion -- an opinion issued by an independent auditor when the scope of the audit has been restricted in some manner or the financial records have departed from generally accepted accounting principles (GAAP). See adverse opinion.

Qualified thrift investment (QTI) -- housing-related assets that a savings institution can count toward meeting its qualified thrift lender test.

Qualified thrift lender (QTL) -- a savings institution that qualifies for low cost advances from its Federal Home Loan Bank and/or qualifies for federal tax benefits by virtue of having at least a certain percentage of its assets in housing-related investments. Traditionally, the minimum has ranged between 60 and 70 percent of assets. See actual thrift investment percentage. See qualified thrift investment.

Quarter -- a United States coin equal to 25 cents or one-fourth of a dollar.

Quitclaim deed -- a document by which the owner of real estate conveys to another the owner's legal right to, interest in and title to a property, but which contains no warranty or statement regarding claims, if any, that others might have in the property.

Quick take -- the acquisition by government of private real property under the power of eminent domain, prior to the completion of condemnation proceedings, in order to avoid loss of time.

Quiet title action -- a legal process to eliminate any claims against a property by persons other than the owner. The procedure is used to perfect the title to the property when quitclaim deeds can not be obtained from those who may have such claims on the property.

Quotation (quote) -- the highest bid to buy and the lowest bid to sell a security in a given market at a given time. A quotation might be, for example, "32 1/4 to 32 1/2" meaning that $32.25 is the highest price any buyer wanted to pay at the time the quote was given and $32.50 was the lowest price any seller would take at the same time, in the same exchange.