[
Dictionary of Terms ]
 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
K
KEY
LOT A parcel of land that because of its location must be acquired
in order to assemble several parcels into one large parcel. The
key lot may be a corner lot or it could be an interior lot.
KEY
TENANT A major or primary tenant in an office building or shopping
center. Generally such a tenant leases a significant amount of
the net leasable space.
KICKBACK
Payment made to someone for referral of a customer or business.
Generally speaking, kickbacks are illegal. The reason is that,
unlike a commission, a kickback is made without the customer's
knowledge; thus, the referral could have been made without thecustomer's
best interest at heart. Secret kickbacks to a lender from a provider
of a service are specifically prohibited by the Real Estate Settlement
Procedures Act.
KICKER
The right of a mortgage lender or other investor to share in
income, in addition to principal and interest receipts. Also
known as equity-kicker and lender participation.
KIOSK
A small freestanding structure located in a shopping center or
mall from which merchandise is sold. The type of products marketed
would include film, flowers, ice cream, or any item that is uniform
in nature so that it can be purchased with little or no shopping.
Typically, the tenants of these operations pay a substantially
high rent based on a percentage of sales.
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