Key Money Transactions
Issue No. 2433- Key money is the right of priority that a tenant gets on the property against the money that he pays to the landlord at the beginning. As per this transaction, the tenant who has paid key money in renting that property has the priority over others. Key money did not exist in the past but nowadays it is a common practice and it is in order under the following circumstances: The amount of key money should be known and the parties involved should perform the transaction on their own volition and accord. They should be adult, sane and mature, and they should know the meaning of key money and its necessities.
