Your Online Legal Resource Center for Property Management

KEOGH PLAN - A plan allowing self-employed people to deposit money into a retirement fund account and defer paying income tax upon it until it is withdrawn after they reach retirement age when their income bracket will be substantially lower.

KEY LOT - A strategically located lot important to the best utilization of an adjoining lot; its location increases its value.

KEYMEN INSURANCE - Insurance placed on an important business figure based on his or her value to the company and the loss which would be incurred by his absence; required by some lenders making loans to small companies with a few key people running the operation.

KICKERS - Equity participation required by a lender before making a loan, such as the payment of rent, profit or extra interest to the lender; may violate usury laws.

KIN - Blood relatives.

KIT HOME - A structure that contains prefabricated components and is put together by a contractor.

KNEE WALL - A wall-like structure that supports roof rafters.

KNOB AND TUBE WIRING - An old-fashioned wiring system that has been replaced by fuses and circuit breakers.

KNOCK DOWN - Portable window frames or partitions which are easily taken apart moving.