Definition: the legal minimum number of people required to be present before a specified meeting can take place
Used in a Sentence: A quorum of four members must be present for a FREC meeting to take place.
Definition: a type of deed that will effectively convey any present interest, claim or title to real property that the seller may own
Pronunciation: \ˈkwit-ˌklām\ \ˈdēd\
Used in a Sentence: I was given a quitclaim deed when I purchased the property from my grandfather.
Definition: a court action intended to establish or settle the title to a property, especially where there is a cloud on the title
Used in a Sentence: In order to get a clear title on the property we needed to file a quiet title action.
Definition: the right of an owner or lessee legally in possession of property to uninterrupted use of the property without interference from the former owner, lessee or any third party claiming superior title
Pronunciation: \ˈkwī-ət\ \in-ˈjȯi-mənt\
Used in a Sentence: A General Warrenty Deed will contain the covenent of quiet enjoyment.
Definition: powers designated to the FREC to enact rules and regulations, decide questions of practice and validate records
Pronunciation: \ˈkwā-ˌzī\ \ˈle-jəs-ˌlā-tiv\
Used in a Sentence: The FREC exercises is quasi-legislative powers when it adopts rules.
Definition: powers delegated to the FREC to enact rules and regulations, decide questions of practice and validate records
Pronunciation: \ˈkwā-ˌzī\ \jü-ˈdi-shəl\
Used in a Sentence: The power to grant or deny a license is a quasi-judicial power of the FREC.
Definition: the process of reviewing a prospective borrower’s credit and payment capacity before approving a loan
Used in a Sentence: It is smart to get a qualification from a lender before looking for a house so you know what you can afford to spend.
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