A NC property owner who grants permission to a neighbor to park in their driveway each day on a handshake creates:
Why A revocable license that may be withdrawn at any time Is Correct
Answer B: A revocable license that may be withdrawn at any time
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.
Tenancy in CommonCo-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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