A landmark U.S. Supreme Court case that defined the parameters for the government's use of eminent domain to transfer land from one private owner to another for economic development.
Key money refers to amounts paid at the outset to lease a property, especially in regions where desired property types are scarce.
A Key Tenant, also frequently referred to as an Anchor Tenant, is a major retailer or other business that is considered to be significantly beneficial to a commercial property. They draw considerable foot traffic, consequently supporting smaller businesses in the same complex.
A kick-out clause is a provision in a real estate sales contract that enables the seller to void the agreement if a superior offer is received before the sale closes.
Kickbacks are fees or rebates paid to an agent or other participant in a transaction as an incentive to refer customers to a particular vendor, without any actual service provided to the customer besides the referral. These practices are often illegal and can jeopardize the integrity of the real estate transaction.
A kicker is a payment required by a mortgage, in addition to normal principal and interest, often linked to a borrower’s financial performance metrics such as gross sales or profits.
A kiosk is an independent stand that is used for selling merchandise. It is often located in the common areas of large shopping centers and malls, catering to consumer convenience and typically offering products ranging from food to small novelty items.
Schedule K-1 is a tax document used to report income, deductions, and credits from partnerships, S corporations, estates, and trusts to individuals, partners, or shareholders. It also contains information on these entities' distributive share of items like income, losses, and dividends.
