Property Ownership
In Michigan, which of the following best describes a 'license coupled with an interest'?
AA real estate license held by someone who also owns property
BA license to use property that is irrevocable because the license holder has paid value or has a legitimate interest in the property✓ Correct
CA license that expires after one year
DA real estate license issued to a corporation
Explanation
A license coupled with an interest is irrevocable because the licensee has invested value or has an interest in the property that makes revocation unjust. Unlike a bare license, it survives transfer of the property.
Related Michigan Property Ownership Questions
- In Michigan, a 'license' in real property (as opposed to a real estate license) is:
- A Michigan property owner's estate includes a parcel subject to a conservation easement held by a land trust. The new owner who purchases the property:
- In Michigan, 'riparian rights' include which of the following?
- A Michigan property owner holds a fee simple absolute estate. This means:
- In Michigan, an easement appurtenant benefits:
- In Michigan, tenancy by the entirety is available only to:
- In Michigan, the 'rule against perpetuities' affects:
- In Michigan, a deed restriction (restrictive covenant) is enforceable by:
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