What is a 'license' in real property law (as distinct from a real estate license)?
Why A personal, revocable permission to use another's land for a specific purpose Is Correct
Answer B: A personal, revocable permission to use another's land for a specific purpose
Exam Tip: Property Ownership
Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.
Key Property Ownership Terms in This Question
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Key Terms to Know
A non-possessory right to use another person's land for a specific purpose.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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