@article{ART001613488},
author={박상현},
title={Compensation and Valuation of the Shop Key Money},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2011},
volume={21},
number={3},
pages={49-71}
TY - JOUR
AU - 박상현
TI - Compensation and Valuation of the Shop Key Money
JO - Korea Real Estate Review
PY - 2011
VL - 21
IS - 3
PB - korea real estate research institute
SP - 49
EP - 71
SN - 2092-5395
AB - Commecial tenant is to receive fair compensation for key money which could be rewarded if it were not for public works projects. The key money is customary in a tenancy transaction but it is not receptive to the current law. Therefore in order to qualify for compensation it should be specified in the Land Compensation Act.
In this article, I researched into the problem of business compensation system which is current commercal tenancy compensation system. Then I decided that key money should be compensated to obtain fair compensation.. In order to give legal basis to this, I divided key money into locational key money, facility key money and operation key money, and defined each concept. Locational key money is consideration for the transfer of a tenancy and it is a tenancy value. Thereupon it can be compensated according to the regulation of the non-ownership rights compensation in the Land Compensation Act. And operation key money is consideration of the transfer of the goodwill which is transferred in combinaton with a tenancy. Therefore it should be compensated with the tenancy.
Locational key money and operational key money are seperated and appraised conceptually and in reality,they can be appraised totally as the sum of the current values of the total expected surplus operaton income.
However, in order to change the administration which do not compensate the key money of the commercial lease, it is necessary to regulate a shop tenancy and its combinated goodwill as the object of the compensation in the Land Compensation Act clearly and the valuation methods should be regulated in the Act.
In order to guarantee the stability and transferability of the shop tenancy it is necessary to extends lease renewal period of five years into seven years and it is required to control the commercial lease landlord’s restrictions on the transfer under good causes through the amendment of the Commercial Buildings Lease Protection Act.
KW - shop tenant;key moneym;business compensation;locational key money;operational key money;tenancy;goodwill
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박상현. (2011). Compensation and Valuation of the Shop Key Money. Korea Real Estate Review, 21(3), 49-71.
박상현. 2011, "Compensation and Valuation of the Shop Key Money", Korea Real Estate Review, vol.21, no.3 pp.49-71.
박상현 "Compensation and Valuation of the Shop Key Money" Korea Real Estate Review 21.3 pp.49-71 (2011) : 49.
박상현. Compensation and Valuation of the Shop Key Money. 2011; 21(3), 49-71.
박상현. "Compensation and Valuation of the Shop Key Money" Korea Real Estate Review 21, no.3 (2011) : 49-71.
박상현. Compensation and Valuation of the Shop Key Money. Korea Real Estate Review, 21(3), 49-71.
박상현. Compensation and Valuation of the Shop Key Money. Korea Real Estate Review. 2011; 21(3) 49-71.
박상현. Compensation and Valuation of the Shop Key Money. 2011; 21(3), 49-71.
박상현. "Compensation and Valuation of the Shop Key Money" Korea Real Estate Review 21, no.3 (2011) : 49-71.
