turnkey

[turn-kee]
noun, plural turnkeys..
1.
a person who has charge of the keys of a prison; jailer.
adjective
2.
Also, turn-key. of, pertaining to, or resulting from an arrangement under which a private contractor designs and constructs a project, building, etc., for sale when completely ready for occupancy or operation: turn-key housing, turnkey contract.
3.
fully equipped; ready to go into operation: a turnkey business.

Origin:
1645–55; turn + key1

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
turnkey (ˈtɜːnˌkiː)
 
n
1.  archaic a keeper of the keys, esp in a prison; warder or jailer
 
adj
2.  denoting a project, as in civil engineering, in which a single contractor has responsibility for the complete job from the start to the time of installation or occupancy

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Etymonline
Word Origin & History

turnkey
1654, "jailer," from turn + key. In ref. to a job that only has to be done once, it is recorded from 1934. The notion is of locking up afterward.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Masterfully built with exceptional attention to detail throughout, this beautiful estate is turnkey and ready for the next owners.
Beach properties vary from turnkey condos to duplexes to stand alone single-family homes.
The turnkey project provided single source responsibility and risk management while ensuring project completion.
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