Real Estate Insurance Terms - K

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KEENE'S CEMENT -An unusually tough and durable gypsum plaster to which alum has been added. Used primarily for walls of commercial buildings.

KELP SHORE - The shore between the high and low water marks.

KEOGH PLAN - A retirement plan whereby a self-employed person may set aside a certain portion of income (tax deferred) into a retirement account. The money is taxable upon withdrawal at retirement when the person's tax bracket is often lower.

KERF - (1) A notch or slit made by a saw. (2) The width of the cut of a saw blade.

KEY LOT - (1) A strategically located lot, adding to its value. (2) A lot adjoining a corner lot at its rear property line with frontage on the secondary street. Also called a Butt Lot.

KEYMAN INSURANCE - Insurance through loss (through death or disability) of a "key" (important) person in a company. The liability is the estimated cost of the loss (in business lost, and replacement of the individual). Some lenders require this insurance before lending to small companies which rely on one or a few "key" people.

KICK PLATE - A metal or plastic strip placed at the lower edge of a door or on a riser of a step to protect it from damage by accidental kicking.

KILN - (1) An oven which reaches high temperatures for baking ceramics or bricks. (2) A room or shed through which warm, dry air is circulated to dry lumber.

KILO - One thousand; a prefix (kilometer: 1000 meters; kilogram: 1000 grams).

KIN - Those related by blood.

KITE WINDER - The steps at the curvature of a circular stairway, which are triangular or kite-shaped.

KNOLL - A small rounded hill.